In recent news, the Chinese tech giant, Alibaba has made it to the top of a list of companies which has applied for patents regarding blockchain and, by connection, technologies which use it. Money Control reveals that many countries have companies which applied for the patents. Asia is represented by China, South Korea, and Japan, while the rest of the world as Europe and the US.
Jing Xiandong, designated CEO of the financial arm of Alibaba, revealed that the company owns quite a number of patents. Each of these patents covers different areas related to innovation, new designs, and new ways to use things. Smartereum reveals that these lead to partnerships with other firms, but mostly, these partnerships are rooted in blockchain-adoption, innovation, or otherwise.
These could be the benefits that are topping the list gave the tech group, but there's more.
Applications for blockchain means that the Alibaba Group is open to researching each and every possible application of this technology. This also shows customers that the company is dedicated to transparency and clear delivery of services, something that's a top premium for many people. Alibaba doesn't only want to join the movement; rather, it is looking at becoming the pioneer in more areas than one, from counterfeiting resolution to improving labor conditions in the factory.
From research into the technology, Alibaba has, through its subsidiary Lynx International, already created a very successful application of it. In practical applications, Lynx already has a proven record of successful and clear deliveries to clients. Any question into transportation and verification need only be directed towards the blockchain records of Lynx's transactions.
In a show of dedication to keeping to the blockchain revolution, another of Alibaba's subsidiaries-T-Mall, in partnership with Cainiao-has resolved to use blockchain in their transactions to cover their cross-border transactions. Like Lynx, T-Mall makes it easier for customers and partners to trace their transactions through blockchain tracking of shipments.
China and the US have shown that it is dedicated to proving blockchain has important practical applications. Inside delivery and fail-proof services, Alibaba has shown that it plans to implement blockchain to ensure honesty in service and delivery to its many loyal customers.
