Alibaba Subsidiary Reports Successful Use of Blockchain Technology for Logistics Data

Alibaba Subsidiary Reports Successful Use of Blockchain Technology for Logistics Data

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Lynx International, a division of the Chinese giant Internet commerce company Alibaba, reported the successful integration of distributed registry technology into the company’s cross-border logistics system. This is written by the CCN.

According to the company’s representatives, the blockсhain-based system keeps track of important information about import deliveries, including product information, shipping methods, results of customs control and other third-party audits.

“Despite the fact that the concept of blockсhain began to develop only recently, this technology already has a very wide range of applications. We are firmly convinced that this is internet technology, not an instrument of currency speculation,” Lynx Technical Manager Tang Ren shared.

Also, according to him, the new Blockсhain system allows you to analyze important information about products supplied from abroad products long before it arrives in the country of destination. To date, more than 30,000 different imported goods have passed through the new system.

We remind you, recently announced the transfer of trans-border supply chains to the blockсhain T-Mall platform, also a division of the Alibaba Group.

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