AliBaba’s T-Mall Adopts Blockchain tech in its Cross-Border E-commerce
According to China’s news agency Xinhua report published on Wednesday 28th of February 2018, Alibaba’s T-Mall e-commerce platform is adopting blockchain technology in its cross-border supply chain through a partnership with logistics company Cainiao.
The partnership aims to move information on goods for import and export onto a blockchain that can track their country of origin, shipping port and method, arrival port as and customs report details.
Alibaba is an investor in Cainiao, which is doubling down on its belief that blockchain has a significant potential to be adopted for cross-border e-commerce, resulting in this launch.
The partnership claims Chinese consumers from various cities covered by Cainiao, including Shanghai, Guangzhou and Shenzhen, will be able to track the blockchain-based logistic information for some 30,000 goods from 50 countries through the e-commerce’s mobile application.
Alibaba aims, through this partnership, to enhance consumer confidence when it comes to battling counterfeit products.