In recent years, Alibaba [BABA] continues to be the emerging world champion of distributed ledger systems patents. Blockchain patents are not the only proof of the company’s adoption of blockchain technology. In addition, the company’s growing reputation is due to its blockchain collaborations, innovations, and adoption.
Alibaba’s Partnership with Aerospace Information Company
Alibaba and Aerospace Information Company, a giant software designer and service provider, have signed a Memorandum of Understanding (MoU) to provide cloud computing and blockchain tech services. A Chinese finance magazine Securities Daily announced the deal on March 21.
The two companies are exploring their respective brand technologies to effectively integrate resources and conduct extensive research in the areas of cloud computing, finance, the blockchain, and many more.
According to the MoU, both firms will mutually enhance their research and development efforts to facilitate the incorporation of more technologies.
At the beginning of March, the deputy president of Alibaba Liu Song said they were planning to use distributed ledger systems for global supply chains, with the likelihood to connect the sector with local authorities.
How Alibaba is Championing the Application of Blockchain Technology
So far, Alibaba has implemented the distributed ledger systems to combat food fraud, secure healthcare data and monitor overseas shipments.
- Lynx and T-Mall Adopt Blockchain Technology
Alibaba, through its branch Lynx International, started using blockchain to track data in its global logistics services. This will allow Lynx to hold an immutable copy of shipment data like manufacturing, delivery, customs duties, verification, and track global shipments.
Similarly, another Alibaba subsidiary, T-Mall adopted distributed ledger systems for its supply chain system. T-Mall and its partner Cainiao can now track shipment information globally.
- Alibaba’s Use of Blockchain to Combat Counterfeit Food
In 2016, IBM revealed a partnership with giant food dealers like Dole, Kroger, Tyson Foods, Unilever, and Walmart. The project announced efforts to minimize food contamination in the international supply chain. After that, Alibaba had already agreed with Pricewaterhouse Coopers (PwC) to solve China’s food security problems. The two companies built a “Food Trust Framework” based on blockchain to monitor farm produce from farmlands to supermarket shelves.
- Alibaba Partners with the Government of China on Healthcare
In a bid to improving the medical care in mainland China, the Changzhou-based company is deploying blockchain technology. The firm is collaborating with the Chinese regime to build a “trusted ecosystem for transactions.” The blockchain technology is being applied to share patients’ data with physicians in a very effective way.
Alibaba’s company projects are a demonstration to the world. They are providing a unique business model for permanently establishing themselves as a business leader in the 21st century.