Alibaba blockchain supply chain

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Alibaba blockchain foray into supply chain picks up pace

Alibaba Australia has announced the launch of a pilot that will see orders made through the company's new Food Trust Framework, an initiative that uses blockchain technology, in attempt to improve supply chain traceability. Health supplements company Blackmores and dairy products supplier Fonterra will be the first to trial the Food Trust Framework, shipping products from Australia and New Zealand to China via Alibaba's Tmall Global platform.

Alibaba is hopeful that if the pilot taking place in Auckland is successful, the blockchain framework could form the basis of a global supply chain model applied across all of Alibaba Group's ecommerce markets.

The company believes blockchain, best known as the technology behind cryptocurrencies such as bitcoin, is well-suited to address food fraud -- a practice that involves packing foods with lower-quality and often counterfeit ingredients. The trial follows the Chinese giant in March last year joining forces with Australia Post and PwC to explore the use of blockchain technology to combat food fraud.

The local arm of the Chinese giant also signed a memorandum of understanding last year with Blackmores, Australia Post, Fonterra, and New Zealand Post for the framework. The framework, according to Alibaba, aims to achieve end-to-end supply chain traceability and transparency, boosting consumer confidence and building a "trusted" environment for cross-border trade across Alibaba's Tmall Global platform.

The company also said the framework represents the next step in Alibaba's vision to build the future infrastructure of commerce. Toggle navigation. In addition to blockchain technology, products will also be tagged with QR codes. Leave a Comment.

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According to Song, he said that in the future, the company can have several use cases of the blockchain technology as it can implement the technology in complex supply chains to create a closed-loop ecological system that could be linked with local governments. Furthermore, speaking about brokerage and investment bank China Galaxy Securities, Alibaba said that it plans on developing new technologies such as the Internet of Things IoT and blockchain in the fields of trade finances, international logistics, and customs brokers. Notably back in December , Alibaba Group went on to announce an upgrade of its service platform to a cross-border supply chain platform with the use of blockchain technologies and IoT. Alibaba has backed the Blockchain technology since quite a while as back in October , the company filed a patent application demanding a blockchain-based system authorizing parties to intervene in a blockchain network or freeze user accounts associated with illicit transactions. Significantly, not long ago, a report was published by the World Trade Organization which determined the effectiveness of blockchain applications for several industries, that included, cross-border trade logistics, finance, and transportation. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment.

leveraging blockchain to increase consumer trust, and save on supply chain costs. Alibaba creates blockchain food safety consortium.

Alibaba applies for 262 blockchain patents

Watch this video to find out why more than 1, members have joined the European Chamber. Download Introduction Brochure. Forgot your password? Learn how to become a member. Blockchain may have gained notoriety as the technology that provides the infrastructure for Bitcoin, but more than that, as a chain of linked data blocks, blockchain is playing a bigger role in business, where MNCs and SMEs can utilise to simplify their business processes in order to keep up with the fast pace of today's ever-changing digital world. How can companies involve new technologies such as blockchain into their daily operations and benefit from it? The European Chamber is delighted to invite speakers from Alibaba, EY Wavespace and TekID, to provide participants with insights on how blockchain is changing the way businesses do business and practical case studies on how companies can utilise blockchain and other new technologies in better protecting their intellectual property rights and manage their supply chain. This seminar will focus on how companies can secure evidence with a new method of notarisation and trace the origins of their goods to reduce counterfeiting using digital tools developed by Alipay and Ant Financial. Our speakers will also discuss the practical examples of how to apply blockchain to solve business challenges, such as drug and vaccine traceability, asset life cycle management and network procurement.

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alibaba blockchain supply chain

This Alibaba blockchain move into the complex supply chain industry could be significant. Alibaba is a recognized giant in eCommerce, retail, Internet, and technology spaces. Their supply chain is understandably complex. They now plan to simplify it with blockchain.

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How Alibaba is championing the application of blockchain technology in China and beyond

Ku says blockchain makes it cheaper to run an online marketplace which lets him remove the fees he currently charges merchants to sell products on the site. That, he says, should attract even more sellers. Ku is also creating a payment system based on the technology that will help attract new shoppers in a region where cash still predominates. So far, the response has been positive: Three months in, he says, more than 5, merchants have registered 2. Ku is virtually unknown outside Asia. He keeps a low profile and has no social media presence.

Alibaba Turns to Blockchain in Fight Against Food Fraud

Why it matters: Blockchain could streamline the complicated logistics involved in maritime transport, including hurdles from multiple regulators, customs agencies, and harbor authorities. Details: Ant Group will explore how Ant Blockchain, its proprietary blockchain technology, can transform logistics in the global maritime industry, according to a statement sent to TechNode on Monday. Eliza was TechNode's blockchain and fintech reporter until July , when she moved to CoinDesk to cover crypto in Asia. Get in touch with her via email or Twitter. More by Eliza Gkritsi. Email address. First Name. Last Name.

Zhao Jiechen, supply chain quality manager of Koala Purchasing, said that blockchain's traceability lets customers know where their goods come from.

COSCO Teams up with Alibaba on Shipping Blockchain

Walmart is forcing all of its leafy greens suppliers onto the blockchain. We explore other retailers and CPG companies leveraging blockchain to improve transparency, increase consumer trust, and save on supply chain costs. The Food Trust, a partnership between IBM and major food companies , helps reduce the time it takes to track the source of food from days, weeks, or months to only 2.

IMC Newsdesk

Many of us have heard of blockchain and the definitions are becoming more digestible in this tech-centered world — but the sectors that blockchain is impacting are no longer limited to financial services. In fact, for China, the food sector is looking at blockchain to fundamentally transform several key areas within their businesses. Each year, one in 10 people fall ill globally as a result of foodborne diseases, and of those around , people die. Blockchain has the potential to step in a make a significant cut into these statistics. We all want it.

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In China, a number of counterfeit food and false certification scandals have hit consumer confidence in the products they buy from their supermarkets hard. As Chinese consumers slowly but surely opt for organic and healthier food, finding a solution to guarantee greater food safety has become a major issue for manufacturers and distributors. This is the backdrop against which Alibaba began looking into Blockchain. The group started integrating this solution back in to track the origin of food, via its Hema supermarkets and its Yiguo fresh produce e-commerce platform. So Blo c kchain has real potential to guarantee consumers reliable and unalterable traceability , and solve the health and safety issues businesses in this field are facing.

China's Seacon Shipping Group is expanding its fleet with an order for two kamsarmax bulkers and two resale captures Within half a year after delivery, thesystem The successful

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