Alibaba will use the blockchain in monitoring cross-border supply

March 1, 2018

Alibaba will use the blockchain in monitoring cross-border supply

Alibaba will use the blockchain in monitoring cross-border supply

Alibaba e-Commerce giant t-Mall platform uses blockchain technology in its cross-border supply chain, with the assistance of Cainiao logistics company.

According to a report by Chinese news Agency Xinhua on Wednesday, the partners aim to transfer information about the goods for import and export on the blockchain, to trace their origin, method of delivery, ports of departure and arrival and details of the customs statements.

Alibaba, an investor of Cainiao, has repeatedly expressed the belief that the blockchain has a significant potential, which should be adopted by the field of cross-border e-Commerce.

According to the organizers, the project will allow Chinese consumers from various cities within the scope of Cainiao, including Shanghai, Guangzhou and Shenzhen, to track logistic information about 30,000 goods from 50 countries through the mobile application of blockchain-based e-Commerce.

Alibaba expects that T-Mall will increase consumer confidence in the concern’s products, as it will contribute to the effective fight against counterfeit products.

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