Alibaba Subsidiary Reports Successful Use of Blockchain Technology for Logistics Data

Lynx worldwide, a subsidiary of the chinese e-commerce monolith Alibaba, lately announced that it has successfully integrated blockchain era into the employer’s go-border logistics business. in line with the business enterprise, its blockchain-based totally system continues track of all applicable records concerning an imported shipment, inclusive of information about production, shipping method, customs, inspection and third party verification.

The technical chief of the enterprise, Tang Ren, advised a chinese news outlet,

“even though the idea of blockchain has best currently started to emerge, it has a very huge range of applications. We firmly believe that this is a web-based generation, no longer a tool for speculating on currencies.”
As is typical for any blockchain-based system, as soon as the statistics is recorded, it may be retrieved and scrutinized, however no longer changed under any condition. Blockchain’s immutability is one of the primary reasons it has seen overwhelming use in cryptocurrencies. as a consequence, through extension, any device using the technology can experience the security blessings and trustless nature.

Alibaba’s foray into blockchain technology does no longer always suggest that the enterprise has any soft spot for cryptocurrencies although. no longer too long ago, in December 2017, the organisation’s founder, Jack Ma, said that while he had no private or commercial enterprise interest within the asset elegance on the time, his enterprise became making massive headways in blockchain era. Lynx’s declaration is probable one of the few early effects of Alibaba’s foray into the field.

for the reason that Alibaba owns Taobao and AliExpress, massive on-line shopping web sites catering to China and the relaxation of the world respectively, it makes feel that the parent organization is making an attempt to streamline its logistics technique. along the import business, Alibaba has also released blockchain-based programs for the healthcare and food first-class manage industries.

some media reports indicate that Taobao’s cellular app has been up to date with links to “View product logistics traceability statistics” at the lowest of some items. whilst clicked, any information available for the product might be displayed, possibly allowing the user to ensure that the object in question has been imported from a legitimate source.

so far, it's far envisioned that over 30,000 imported goods from ports in Shangai, Shenzhen, Guangzhuo, Hangzhuo and Tianjin amongst others have had their information logged at the enterprise’s blockchain machine. Tang additionally showed that the records tracking technique starts earlier than the products even reach the country He said.

“When these goods are shipped from overseas to China, the logistics data have already begun to go on the blockchain.”