Alibaba Leading Blockchain Development in China

May 6, 2019

E-commerce giant Alibaba is now among the companies with the most blockchain patents globally, with 43 patented applications relating to the technology filed in 2017. Jing Xiandong, CEO of Alibaba affiliate Ant Financial, went so far as to say, “[Alibaba is] the most patented company in the world of blockchain technology.”

According to a report on social crypto platform Smartereum, the company has also been proactively pushing forward with blockchain adoption, innovation, and partnerships with other firms, developing blockchain platforms to address pain points in many sectors.

In the area of food contamination, Alibaba inked an agreement with PricewaterhouseCoopers (PwC) to address food security issues in China using blockchain technology to track food products from the manufacturer to consumer.

The e-commerce giant, through its subsidiary Lynx International, is using blockchain-powered tools to monitor data in its international logistics services. Lynx has reportedly been successful in the adoption of blockchain technology to store immutable records relating to all logistics it has carried out, from transportation and customs to inspections and third-party verification.

Similarly, TMall, another business under Alibaba’s purview, has partnered with Cainiao to use blockchain to monitor shipments in more than 50 countries.

In the area of healthcare, Alibaba has entered a partnership with the Chinese government to use a blockchain-based platform that allows medical records to be shared among doctors with enhanced security and efficiency.

However, the company has indicated that it has no interest in cryptocurrency. Founder Jack Ma said, “We should be cautious about Bitcoin. Its underlying technology, however, is really powerful. I pay more attention to a cashless society and the blockchain technology.”


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:


Related Article
Malaysia’s Stock Exchange Uses Blockchain in Securities Lending
Malaysia’s stock exchange has announced that it is developing a blockchain solution for a securities...

May 20, 2019

India’s NPCI Considers Blockchain for Digital Payments
The National Payments Corporation of India has revealed that it is considering the adoption of a blo...

May 20, 2019

IEO The Next Big Thing
IEOs are not just advantageous for investors, of course. For the projects that are seeking to raise ...

May 20, 2019

Blockchain Privacy Startup QEDIT Closes $10M Round with Ant Financial
QEDIT has closed a US$10 million Series A round, with investors including Ant Financial, and announc...

May 20, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us