THELOGICALINDIAN - Several posts on Chinese Bitcoin account sites like Coin Account Asiaare advertisement that online sales behemothic Alibaba is alive on possibly application blockchain tech for their Alipay account It was aboriginal talked about on 8BTCcom on Jan 20th amidst belief as to what uses Alibaba and Alipay ability be attractive in the technology to do
Also Read: Alibaba & Blockchain Technology Fight Against Counterfeit Goods
In a account at Coin News Asia Jingming Li, President of Alipay U.S. declared while talking about partnering with United could be one of the areas that they will arrange blockchain technology.
Alibaba which went accessible aftermost year with their IPO has been aggressively growing apple advanced and in attractive for means to be able to be clue altered genitalia of this all-inclusive business is attractive into blockchain technology from the Bitcoin industry. Does this beggarly Alibaba and Alipay are activity to acquire Bitcoin? Most acceptable not anytime anon but the actuality they are attractive at Bitcoin’s basal technology shows aloof how transformative it absolutely is.
With Alibaba’s Alipay they could accommodate a blockchain abject to it which could accomplish for a added able-bodied database that can be cryptographically anchored and bound searched for bigger chump annual and centralized bookkeeping. The means Alibaba could use the blockchain technology are limitless. Right now what they will do with it is belief as letters accept them in the analysis appearance of the process. It will be absorbing to see what means they accommodate it into it’s massive sales and online payments systems. Everything from inventory, payments, annual administration and added can can be handled with the blockchain. Internal uses like agent administration and analysis are alike added means it can be used.
Many companies in the banking industry accept either invested in or are currently alive on blockchain technology solutions for both centralized uses and to accompany new banking articles to consumers in a fast and defended address that accepted technologies cannot do. The arduous bulk of hacks and abstracts annexation accept in allotment apprenticed this abrupt appear blockchain tech. Add in old money manual systems that are not accordant with anniversary added aural the industry and accomplish a money alteration takes canicule instead of instantly, blockchain tech can deeply and agilely acquiesce for a arrangement that is accordant amid altered banking institutions and instant.
Seeing Alibaba activate speaking about researching uses for the blockchain is addition assurance it is actuality to stay. Huge companies like Alibaba see the abeyant in the technology. We cannot delay to see how it will apparent there.
What do you anticipate about Alibaba researching blockchain technology to use in it’s systems? Let us apperceive in the comments below.
Image Source: Capital Market Labs, Time
