In its cross-border supply chain, Alibaba’s T-Mall platform reported that it was adding the blockchain technology to its ecosystem within a partnership with Cainiao, a logistic company.
Wednesday, a report by China’s news agency Xinhua mentioned,
“The partnership aims to move information on goods for import and export onto a blockchain that can then track their country of origin, shipping port and method, arrival port as and customs report details.”
Cainiao is convinced about the potential of the blockchain to be adopted for cross-border e-commerce. The companies (Alibaba and Cainiao) claim that cities like Shanghai, Guangzhou and Shenzhen, which are already covered by Cainiao’s services, will be able to keep track of all the logistical data of every product since it will be executed on a blockchain ledger.
This will be possible via the e-commerce mobile application and will be applicable to 30,000 products in 50 different countries.
Another objective of Alibaba with this partnership is to ameliorate customer confidence by battling against counterfeited goods. In that same direction, Alibaba partnered with PwC in 2017 to reduce scams related to the food industry by using the blockchain technology.