Chinese e-commerce giant Alibaba Group is considering blockchain tech implementation for cross-border supply chains, said Liu Song, vice president of Alibaba Group. Alibaba is planning to implement blockchain technology for cross-border supply chains to create a closed-loop ecological system that could be linked with local governments.
The Jack Ma promoted firm also plans to develop new technologies such as the Internet of Things (IoT) and blockchain in the fields of customs brokers, international logistics and trade finances.
Last month, Alibaba’s international online marketplace, Tmall Global, also announced that it had launched a blockchain pilot that would trace imported goods and verify their authenticity and fight food fraud.
In October, Alibaba has announced that its cloud computing arm, Alibaba Cloud, aims to expand their enterprise-level Blockchain-as-a-Service (BaaS) to major international markets including Europe, the United States and Southeast Asia.