After Alibaba launched its blockchain service in October 2018; Alibaba continues to exploit this technology by signing a strategic cooperation agreement for the development of several services with Aerospace Information Co.
We already know that Ant Financial, a subsidiary of Alibaba’s backed by some of the biggest names in global finance and investment, has been interested in blockchain technology for several years, particularly to better regulate the operations of Chinese charities. . This money transfer service represents one of the first breakthroughs of the Internet giant in the world of finance thanks to this technology.
Recently, a partnership was announced by the Chinese financial newspaper, Securities Daily, in its March 21 issue. A partnership between the Chinese giants Alibaba and Aerospace Information Co. dedicated to the development of several services. The Alibaba online sales site and the company specializing in software development and supply agree to take advantage of their respective technologies.
The Alibaba online sales site and the company specializing in software development and supply agree to take advantage of their respective technologies. The two Chinese companies hope to actively integrate their resources to achieve in-depth cooperation in finance and taxation, government affairs, cloud computing, blockchain technology and other sectors.
As Ma said:
“Blockchain technology could change our world, far beyond what people imagine,”
In addition, the security of Alibaba Cloud’s BaaS service is also provided by a secure consortium blockchain network. This solid architecture enables customers to develop their own BaaS services on the Alibaba Cloud cloud platform. The solution relies on Intel NGX for security.
Futhermore, in a report released by the World Trade Organization, Alibaba was commended for its innovations. The report concludes that the effective use of blockchain technology could increase international online sales by at least $ 3 trillion per year. Alibaba seeks to carve out a large part of this financial cake. Its technology could clearly be a major advantage in becoming the retail leader for the next decade.
Source image: Reuters, shutterstock