Alibaba: China’s leading trading platform increasingly relies on Blockchain
Chinese e-commerce giant Alibaba has announced a new blockchain intellectual property protection system. The system should facilitate the application process. The beneficiaries are primarily international companies. The use of blockchain technology is increasing overall in China.
The blockchain implementation in China continues to progress. The trading giant Alibaba has always been a major driver of this development. The Hangzhou-based company has announced that it will make even greater use of the genuine advantages of Distributed Ledger in the future. By September 2019, Alibaba is introducing such a blockchain-based intellectual property protection system.
As the Chinese news site Sohu reported on May 23, the planned system should primarily facilitate the application process. In particular, international companies and brands should be able to better protect their intellectual property. Ali Xizhi, director of the Intellectual Property Department, cited increased transparency and the impossibility of manipulating entries as the main reasons for the update.
Blockchain system is to be expanded
Using blockchain technology will also automate the application process. Applications for protection from foreign companies are to be forwarded directly to China’s Internet courts via the planned Ali Intellectual Property Protection Platform (‘IPP Platform’). The Chinese government established such courts specifically for legal protection on the Internet. Applications and complaints can be processed online.
According to Sohu, Alibaba is already taking care of the intellectual property protection of 30 million new and 1.5 billion products already in the range. The implementation of the Blockchain platform will increase these numbers even more. The company also plans to gradually open the technology for all digital copyright protection. Securing rights to images, sound and film will also be ensured in the future via the Blockchain.
China is patent world champion
Chinese companies generally have a strong interest in blockchain and crypto technology. In 2018, the Chinese government approved 790 blockchain patents . China is thus clearly leading the country comparison. Alibaba has made a considerable contribution to this. According to a report by the Chinese Securities Daily News , Alibaba is said to have filed for 262 Blockchain patents.