Alibaba to explore blockchain technology via their Intellectual property system
Alibaba, the e-commerce giant based out of China is testing the waters with blockchain technology by means of integrating it with its intellectual property system, pointed out by Sohu, a local news outlet.
Alibaba is chalking out ways to use blockchain technology by upgrading the filing of intellectual property rights by utilizing blockchain. The technology will be completely implemented by September.
As it appears to be that with the integration taking place, international brands through electronic deposits can directly link to Internet Court via blockchain based Ali Intellectual Property Protection Platform. This will give a basis to litigation rights protection.
During the month of March the e-com giant and Aerospace Information Co. joined hands “to actively integrate resource and carry out in-depth cooperation” in domains like cloud computing service, finance and taxation and more.
Liu Song, VP, Alibaba publicized about the firm’s plans to put in blockchain technology for their cross-border supply chains and could be linked with local government.
A week earlier, Alibaba is said to apply for 262 blockchain patents, pointed out by Securities Daily News.