Alibaba Subsidiary is Using Blockchain Technology for Logistics Data
The giant Chinese e-commerce Alibaba has announced that the introduction of the blockchain technology within a Lynx International– a company’s subsidiary, has been successful applied. It has been designed for the proper development of logistics activities.
Tang Ren, the Technical Manager of Lynx stated for Beijing News that “Although the concept of blockchain has only recently started to emerge, it has a very wide range of applications. We firmly believe that this is an Internet-based technology, not a tool for speculating on currencies.”.
According to Beijing News, the blockchain technology differs from other digital systems by the fact that it can’t be manipulated. “Through the logistics data uploaded by businesses, customs and other parties, consumers can cross-certify their own information about purchasing goods”.
The blockchain technology will thus support the safe keeping of the necessary information related to the logistics activities, namely data about delivery, production, transport method, inspection and involvement of third parties.
We all know that once the information has been recorded, we can’t intervene to change something. That’s why the blockchain system is a secure one and offers numerous benefits.
There are no signs of involvement in cryptocurrency industry
According to the company, we can’t talk about the fact that the giant Alibaba will embrace the cryptocurrency industry. As a remember, the founder Jack Ma said in December 2017 that he is not personally interested in holding virtual coins.
Alibaba holds under his umbrella two other online giants Taobao and AliExpress. It seems that with the introduction of the blockchain algorithms, the company aims to deploy its logistics activities in a more efficient way.
“A combination of consumer verification”
The Technical Leader added about the logistic activities that “When the goods are shipped from overseas to China, the logistics data have already begun to go on the chain. These data include the country of origin, the country of departure, the port of loading, the mode of transport, the port of entry, Bonded warehouse inspection and quarantine number, customs declaration number, etc., these information provided by the parties will become a combination for consumer verification.”.
Thus, customers will be able to view in a more secure, detailed and fast way all the necessary information about the products purchased online. They will be able to check the source of items’ province and authenticity.
Alibaba is an influential e-commerce giant. The company is not at its first involving in blockchain technology. However, it’s still developing and tries to adapt to the new changes in the market. Their new project will encourage for sure more customers to trust the company.