China Merchants Port Signs Blockchain-Related Deal with Alibaba
Alibaba Group, the massive China-based e-commerce giant, has reached a deal on the 28th of May, 2020, with its affiliate, Ant Financial, and China Merchants Port, the biggest port operator in China. This deal will allow for the development of a platform based on a blockchain network, which will then be used in a variety of different use cases.
Pushing For Advancements In Networks
Through coverage from a local media outlet, the platform was explained to allow its logistic companies, buyers, sellers, customs, banks, and tax officials to conduct imports and exports through contactless digital transactions.
The companies themselves will push for an in-depth integration of blockchain technology within the port industry at large. The overarching goal in this move, is to become the world’s first digital port with a blockchain-based, open collaboration network.
Aiming To Spread Data Across Whole Supply Chain
The report went into detail, stating that … Read more