Plus   Neg

Alibaba Upgrades Intellectual Property System With Blockchain

alibabablockchain march22 24may19 lt

Chinese e-commerce giant Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs.

Alibaba's IP protection system reportedly serves more than 30 million new products and 1.5 billion stocks of goods on the Ali platform every day.

The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection, including pictures, audio and video.

Ali IP Protection Platform allows electronic deposits from international brands to directly link to China's Internet Courts, and would provide a basis for litigation rights protection.

The three Internet courts in the country manages internet-related cases and allow plaintiffs to file their complaints online.

The Chinese conglomerate, which has applied for many blockchain patents, in last October had filed a patent application in the U.S. for a blockchain-based transaction processing method that enables administrative intervention in illegal activities.

In March this year, the company signed a deal with Aerospace Information Co. to actively integrate resources and carry out in-depth cooperation in the field of blockchain technology, among others.

Further, Alibaba's Vice President Liu Song affirmed recently the company's plans to implement blockchain technology to make its cross-border supply chains more effective.

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

For comments and feedback contact: editorial@rttnews.com

Technology News

Follow RTT