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E-Commerce - December 22, 2021

Alibaba Exec: E-Commerce Giant Considering Blockchain Use in Complex Supply Chains

Alibaba Exec: E-Commerce Giant Considering Blockchain Use in Complex Supply Chains 1

In an interview, Liu Song, VP of Chinese e-commerce giant Alibaba Group, has stated that the agency is considering blockchain tech implementation for move-border delivery chains. Song’s comments were noted in an editorial published using China’s largest kingdom-owned newspaper, People’s Daily, on Wednesday, March 6.

E-Commerce Giant

Song underlined that in destiny, Alibaba could enforce blockchain in complicated delivery chains to create a closed-loop ecological machine that might be related to local governments. Alibaba also plans to develop new technologies, including the Internet of Things (IoT) and blockchain in customs brokers, worldwide logistics, and alternate budgets, consistent with Song’s prolonged comments to brokerage and investment financial institution China Galaxy Securities.

In December 2018, Alibaba Group announced an improvement of its carrier platform to a go-border supply chain platform using IoT and blockchain technologies.

As Cointelegraph suggested on October 25, the cloud computing arm of Alibaba Group, Alibaba Cloud, introduced their intention to make bigger their enterprise-stage Blockchain-as-a-Service (BaaS) to main global markets inclusive of Europe, the United States, and Southeast Asia.

Earlier in October, Alibaba Group had filed a patent application for a blockchain-based gadget authorizing events to freeze or halt user accounts related to unlawful transactions or interfere in a blockchain network, Cointelegraph wrote on October 5.

Recently, the World Trade Organization posted a file that underlined the effectiveness of blockchain programs for several industries, including pass-border trade finance, logistics, and transportation.

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