Altcoin News: Alibaba Uses Blockchain in the Intellectual Property System

May 24, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Chinese e-commerce giant Alibaba will use blockchain technology in the intellectual property accounting system of global enterprises and brands.

According to Ali Xizhi, director of intellectual property protection company, Alibaba is developing a system for verifying intellectual property rights using the blockchain. The company plans to fully implement the technology in September, after which digital copyright protection will be included in the system, including visual content.

According to the developers, the system will allow electronic deposits of international brands to communicate directly with Internet courts through the blockchain-based intellectual property protection platform (IPP), providing the basis for protecting judicial rights. China’s Internet courts, which are located in Hangzhou, Beijing, and Guangzhou, use blockchain and AI to make decisions.

In March, Alibaba and software developer Aerospace Information signed a cooperation agreement, under which they will use the blockchain to share experiences and developments in the field of cloud computing, finance, and taxation.

Earlier, Alibaba Tmall Global’s B2C platform started testing blockchains in the end-to-end tracking system for imported goods.

Author: Marko Vidrih