Alibaba, the Chinese ecommerce giant, recently announced that they have plans to revise the security of their Intellectual Property Protection system for global enterprises and brands. According to reports published by local news outlet Sohu on May 23, 2019 the revision includes the integration of blockchain technology. Even though cryptocurrencies are still struggling to make it into the mainstream in China, the country and its innovators are eagerly exploring blockchain technology.
As has been reported earlier as well, Alibaba, which has already been involved in DLT innovations and they very recenlty announced this new venture. As per the report, Ali Xizhi. Alibaba’s Intellectual Property Protection director said that the company was also deliberating about the technology to upgrade the filing of intellectual property rights. If all things go as expected, implememntation of this new tech could be underway by September 2019, leading them to further integrate blockchain with digital copyright protection, too.
The Ali IPP Platform will be directly linked to electronic deposits from international brands to the Internet courts and will provide a basis for litigation rights protection. The platform is especially inclined to serve “tens of millions” of small and medium-sized enterprises and brands.
A report released in September 2018 cited that the e-commerce giant was behinf the most number of the total blockchain related patents filed. At press time, Alibaba had more than 90 patent applications on blockchain-based technologies. The company accounted for 47 such licenses in 2017, while other major Chinese companies filed approximately 56 percent of the total blockchain patents that year.
In March 2019, Alibaba’s financial arm Ant Financial Services also launched two of its blockchain subsidiaries dubbed Ant Blockchain Technology and Ant Double Chain Technology. Of the two, the first was reported to be focused on software development, whereas the latter aimed at innovating the supply chain management system and financial information services.
Alibaba also successfully piloted the tracking of rice produced in the Wuchang district of China with the use of blockchain to help the people and the government recognize counterfeit products.