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Alibaba, Aerospace Information Co. Join To Promote Blockchain Development

alibabablockchain march22 lt

Chinese e-commerce giant Alibaba partnered with Chinese Software major Aerospace Information Co., Ltd. to promote blockchain technology development, according to Chinese finance publication Securities Daily.

The companies signed an agreement to cooperate in the fields of blockchain, cloud computing services and smart industries, and enterprise market services, among others. In the field of blockchain, they will jointly provide cloud solutions to promote the development of the new technology.

The companies expect to complement each other in technology research and development, product equipment and market channels, and promote the integration of new technologies.

Aerospace Information expects the strategic cooperation to be beneficial to the long-term development of the company's related businesses.

As per reports, Alibaba's Vice President Liu Song in early March had affirmed the company's plans to implement blockchain technology to make its cross-border supply chains more effective.

In December last year, Alibaba Cloud joined Hyperledger Blockchain project, an open source collaborative effort aimed to advance cross-industry blockchain technologies.

Back in October, Alibaba had filed a patent application in the U.S. for a blockchain-based transaction processing method that enables administrative intervention in illegal activities.

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