Chinese e-commerce giant Alibaba’s subsidiary, Lynx International, has successfully integrated Blockchain technology into the company’s cross-border logistics area.
Blockchain based system according to the company description; including the details of production, customs, shipping method, inspection and third party verification.
Tang Ren, technical account manager, told Beijing News in his statement:
“Although the concept of Blockchain has just begun to emerge, it has a wide range of applications. We firmly believe that this is an Internet-based technology and not a tool that can be used to speculate on currencies. ”
As with any Blockchain-based system, data can be retrieved and viewed after the data has been saved, but can not be changed in any condition. the Blockcha Is one of the main reasons for seeing an overwhelming use of cryptography in currencies.
The adoption of Alibaba’s Blockchain technology does not mean that the crypto paralara is lighted green. A long time ago Alibaba Jack’s founder Jack Ma stated that he was not interested in crypto paralysis and stated that he had no investment, but he stated that his company had made significant progress in Blockchain technology.
Considering Alibaba also has two separate camels such as Taobao and AliExpress, it can be said that Blockchain intends to speed up the logistics process. Alibaba launched Blockchain-based programs for the import and export sectors as well as health and food quality control sectors.