Vice president of Chinese e-commerce giant Alibaba Group: company is considering Blockchain tech implementation for cross-border supply chains

Liu Song, vice president of Chinese e-commerce giant Alibaba Group, has said in an interview that the company is considering blockchain tech implementation for cross-border  supply chains. Song’s remarks were noted in an article published by China’s largest state-owned newspaper, People’s Daily, on Wednesday, March 6.

Song underlined that in the future, Alibaba can implement blockchain in complex supply chains to create a closed-loop ecological system that could be linked with local governments. Alibaba also plans to develop new technologies such as Internet of Things (IoT) and blockchain in the fields of customs brokers, international logistics and trade finances, according to Song’s extended remarks to brokerage and investment bank China Galaxy Securities.

Back in December 2018, Alibaba Group announced an upgrade of its service platform to a cross-border supply chain platform with the use of IoT and blockchain technologies.

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