Home / Bitcoin / How Alibaba is supporting the application of blockchain technology in China and beyond – Thu Nov 29

How Alibaba is supporting the application of blockchain technology in China and beyond – Thu Nov 29

Aliibaba sues alibabacoin Foundation cryptocurrency ICO News today

When it comes to blockchain technology, in particular blockchain patents, one company stands out from one another. Alibaba [BABA] he is leading the blockchain patent package and I'm proud of it. "We are the most patented company in the world of blockchain technology" Jing Xiandong, CEO of Alibaba's financial arm, Ant Financial said.

Of the 406 patent applications related to the blockchain in 2017, Alibaba has 43, second only to the People's Bank of China (PBOC) which has deposited 68. Alibaba's blockchain patents have covered areas of invention, design and utility. It is a long way to show the efforts that multi-faceted Internet giants are making in the blockchain innovation area. One of the most interesting landmarks of the blockbuster efforts of Alibaba is the blockchain 2.0 of Ant Financial released by the financial arm of Alibaba. The platform has evolved from the initial blockchain 1.0 to becoming an open platform for self-operation and decentralization.

Blockchain patents are not the only evidence of Alibaba's strong demonstration of Blockchain efforts. The e-commerce giant seems to know much more blockchain than many others giving priority to this emerging technology. To date, Alibaba has achieved huge points for its blockchain partnerships, blockchain innovations and adoption.

Companies and organizations around the world are exploring the possibility of using the blockchain supply chain. A sure advantage is that it brings transparency to the supply chain. Blockchain can help, for anything, to counterfeit counterfeiting, record transaction details or combat unfavorable working conditions along the supply chain.

Alibaba would not be left behind in this movement. The Chinese giant will rather pioneer efforts in the blockchain space rather than lose the first gains of blockchain adoption. So far, he has adopted blockchain to combat food fraud, ensure medical data and track cross-border shipments.

The Alibaba Lynx and T-Mall e-commerce branches adopt blockchain technology.

Alibaba, through its subsidiary Lynx International, has integrated blockchain technology to track information in its cross-border logistics services. With the successful application of the blockchain, Lynx is able to maintain an immutable record of shipping information such as production, transportation, customs, inspection and any third party verification.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””] "Although the concept of blockchain began to emerge only recently, it has a very wide range of applications" Tang Ren – The technical director, Lynxx [/perfectpullquote]

For a shipping and logistics arm like Lynx, security and transparency can not be underestimated. It is not really a surprise that Alibaba did not look beyond the blockchain.

More recently, another of Alibaba's subsidiaries, T-Mall in collaboration with Cainiao has adopted blockchain technology for its cross-border supply chain. Similar to the Lynx project, blockchain is used to track information on shipments from over 50 countries.

Alibaba uses blockchain technology to combat counterfeit food

In 2016, IBM announced a partnership with major food producers and distributors including Dole, Golden State Foods, Kroger, McCormick and Company, Nestle, Tyson Foods, Unilever and Walmart to reduce contamination in the global food supply chain.

Alibaba was ahead of the party. The e-commerce giants already had an agreement with Pricewaterhouse Coopers (PwC) to meet the challenges of food security in China. The "Food Trust Framework" that originated from this partnership will use blockchain to track products from the producer to the consumer.

In an effort to improve health care in China, starting with Changzhou, from which the company operates, Alibaba has once again taken advantage of the blockchain technology. The company in cooperation with the Chinese government hopes to create a "trusted environment for transactions".

Blockchain will be used to share patient records with physicians very efficiently.

BASIC, which stands for "Blockchain, Artificial Intelligence, Security, Internet of Things and Cloud Computing" serves as Alibaba's strategy towards emerging technologies, including blockchain. The guide was released at a computer conference in October 2017.

Despite Alibaba's envious progress in blockchain technology, the group seems to have a well-written and proven script that does not give room to cryptocurrencies. This goes up to … or coming down from the billionaire's founder, Jack Ma, who has little interest in encrypted.

Lynx & # 39; s Jing echoed his boss's sentiment when he noted that the cryptocurrency industry was full of rampant speculations very similar to the Internet bubble era of the 1990s. He revealed that his company "[had] drawn a clear line with the Ico. "

Mr. Ma was very pessimistic about bitcoins and cryptocurrencies. While its competitors like JD and Tencent were open about the idea of ​​accepting encryption, the founder of Alibaba has very little to say in favor of the bitcoin. He shared a sincere concern about the perspectives of cryptocurrencies. "I said honestly, I know very little and I am totally confused. Even if it worked, all the international rules on trade and financing will be completely changed ".

Of course, we do not believe that Jack Ma is ignorant of bitcoin as he claims, it's easy to see that he's probably a realist because of China's harsh position on cryptocurrencies. The Asian nation has implemented regulations against cryptocurrency activities within its borders.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"We should be wary of bitcoin, but its core technology is very powerful, so I pay more attention to a cashless company and blockchain technology, and I'm not ashamed that I do not know bitcoin." Jack Ma.[/perfectpullquote]

In contrast, the news of Octobers broke the news that Alibaba was creating virtual mining crypts of cryptocurrency. In the days following the delivery of the cryptocurrency by China, the faithful took the news as a source of hope. But shortly after the news, Alibaba broke hopes through a statement issued on Weibo (a microblogging platform) which states that P2P nodes are destined for the activities of the company's content distribution network (CDN), not that of encryption or virtual currency.

But it has nothing to do with the Chinese Internet giant except one cause. The developers of the cryptocurrency, ABBC Foundation currently have an ICO crowdsale for the token that bears an incredibly similar name to Alibaba.

As expected, Alibabacoin's ITCO promoters were shaken by questions about its connection with e-commerce giants. They responded with a press release stating that the project is not connected to Alibaba in any way.

The Alibaba legal team, however, thinks differently. They accused the Alibabacoin Foundation and other 4 defendants of knowingly deceiving the public using its trademark (Alibaba) in public material.

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