Alibaba’s T-Mall Is Moving Cross-Border E-Commerce to Blockchain

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The platform for e-commerce T-Mall of the Chinese giant Alibaba Group will transfer cross-border supply chains to the blockchain. The project is implemented jointly with the logistics company Cainiao, Xinhua reports.

According to the publication, within the framework of the partnership it is planned to transfer data on imported and exported goods to the detachment, which will track the country of origin, ports of departure and arrival, as well as all the necessary customs information.

Note, Alibaba is an investor in Cainiao. The latter previously announced that it sees in the blockchain a huge potential for application in the field of cross-border e-commerce.

It is alleged that thanks to the new project, residents of various cities in China, including Shanghai, Guangzhou and Shenzhen, will be able to track the logistics data of more than 30,000 products from 50 countries via mobile blockchain applications.

Recall, in the middle of last year it became known that the Chinese giant of Internet commerce Alibaba Group in partnership with the New Zealand dairy company Fonterra, the manufacturer of vitamins Blackmores, PwC, as well as Australian and New Zealand postal operators will create a blockchain consortium to counter fraud in food supply chains goods.