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Alibaba Announces Blockchain Technology Integration

Tuesday, 05 28 2019, Category: Technology, Country: China
As per the latest reports doing the rounds, Alibaba is all set to integrate the technology of blockchain into its very own Intellectual Property Protection system comprising global brands and enterprises. Alibaba is a world-renowned Chinese MNC which has its specialization in e-commerce, internet, retail, and technology. The news first surfaced through reports published by a local news medium called Sohu on 23rd May 2019.

Ali Xizhi, who is active at the post of Director, Intellectual Property Protection at Alibaba, came forward to disclose further details about the company’s new endeavor. According to reports, Xizhi said that their company was contemplating to utilize blockchain technology to upgrade its intellectual property rights filing process. He continued adding that if all things fell into place as per the plans, the implementation of the same would be done by this year’s September month itself.

Revealing further details, Xizhi also said that this particular decision of the company would also facilitate seamless integration of blockchain with the platform of digital copyright protection that also includes visual content. This platform, called Ali IPP, has an intention of serving millions of enterprises and brands, both small as well as medium scale.

This platform will make it possible to link the electronic deposits of global brands directly with the Internet Court. It will primarily offer a powerful means to protect litigation rights. Apparently, China has already established 3 internet courts that are active in Hangzhou, Guangzhou, and Beijing. These courts mainly take care of all the cases related to the internet while letting the plaintiffs file a complaint online, hassle-freely.

Apart from this, Alibaba’s affiliate company titled Ant Financial Services Group also embraced blockchain technology by introducing 2 subsidiaries in March 2019. These blockchain subsidiaries are – Ant Double Chain Technology and Ant Blockchain Technology. While the former concentrates on innovation in the domain of supply chain system and financial information service, the latter focuses on the development of software.

Taking its blockchain interest even further, Alibaba is also said to have applied for as many as 262 blockchain-based patents.


Source: cryptonewsz.com
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