Alibaba China’s biggest e-commerce platform has recently entered in a partnership with a major software engineering company in China, namely Aerospace Information Co., Ltd.
If fruitful this collaboration will contribute to the development and promotion of the blockchain technology in the country.
According to reports, both entities have agreed on and signed a strategic cooperation agreement in regards to smart industries, cloud computing, blockchain technology, and other technologies.
Additionally, as per China’s Securities Daily publication, these companies will be mostly collaborating to fix issues within the financial sector, such as taxes and finances for small and Medium Enterprises (SMEs), and also governmental integration for innovative solutions for authorities. More concisely, they have agreed “to actively integrate resources and carry out in-depth cooperation”
Alibaba and its CEO Daniel Zhang have been eyeing blockchain technology for quite some time now. Earlier in March, the company’s Vice President explained that the company plans to use blockchain technology for cross-border supply chains enabling the creation of a closed-loop ecological system with the possibility to link it with local government in China.
Additionally, The e-commerce giant also has its own Alibaba Cloud Blockchain-as-a-Service (BaaS) service. The platform gives the possibility to businesses to build their own blockchain-based platforms and it’s modeled after the Hyperledger Fabric
Once again it seems that Asia is ahead of the game in terms Distributed Ledger Technologies, but only time will tell.