Chinese multinational conglomerate holding company, Alibaba that specializes in e-commerce, retail, Internet and technology has recently announced its plan of integrating blockchain technology into its Intellectual Property Protection.
According to the latest reports, the Director of Alibaba’s Intellectual Property Protection, Ali Xizhi stated that the company is considering using Blockchain tech to upgrade the process of filling of intellectual property rights. He further stated that if everything goes fine, implementation of this plan would be completed by September 2019 and this move would then lead to integrate blockchain with digital copyright protection platform.
The platform Ali IPP intends to serves “tens of millions” of small and medium-sized brands and enterprises. The platform will link international brands’ electronic deposits to the Internet courts and will provide a basis for the protection of litigation rights.
Alibaba’s financial arm Ant Financial Services also launched two of its blockchain subsidiaries in March 2019. The blockchain subsidiaries were: Ant Blockchain Technology focused on software developments and Ant Double Chain Technology responsible for innovation in financial information services and supply chain management system. Reportedly, with the use of blockchain technology, Alibaba was also successful in piloting the tracking of rice produced in China’s Wuchang district in order to aid the people and the government.