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Alibaba: China's leading trading platform, is increasingly relying on Blockchain

the The Chinese E-Commerce giant Alibaba has announced a new Blockchain System for the protection of intellectual property rights. The System should facilitate

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Alibaba: China's leading trading platform, is increasingly relying on Blockchain
the The Chinese E-Commerce giant Alibaba has announced a new Blockchain System for the protection of intellectual property rights. The System should facilitate the process of submission of the application. To the profiteers count in the first line international companies. The application of the Blockchain technology is growing in China as a whole.

By Anton Livshits
24. May 2019BTC$8.077,00 3.69%part Facebook Twitter LinkedIn xing mail

The Blockchain implementation in China continues. The retail giant Alibaba has always been a main driver of this development. The Hangzhou-based company has now announced that in the future the genuine advantages of Distributed Ledger use. Until September 2019, Alibaba, thus leading to a block chain based System for the protection of intellectual property rights.

As the Chinese news site Sohu at 23. May reported, is to facilitate the planned System in the first place, the submission of the application. In particular, international companies and brands can protect their intellectual property so much the better. Ali Xizhi, Director of the Department for the protection of intellectual property, named increased transparency as well as the impossibility to manipulate dialed entries, as the main reasons for the Update.

Blockchain System is to be extended

The use of the Blockchain technology will automate the process of submission of the application, however, also. Applications for protection by foreign companies are to be forwarded via the planned Ali Intellectual Property Protection Platform (‘IPP platform‘) directly to China's Internet-based dishes. The Chinese government established such courts for the legal protection on the Internet. Requests and complaints can be processed online.

According to Sohu, Alibaba takes care of, however, already today, to the intellectual property protection of 30 million and 1.5 billion already in range of existing products. The implementation of the Blockchain platform will increase these Figures once again. The company also plans to open the technology for the entire digital copyright protection. The protection of Rights to images, sound and Film will take place in the future on the Blockchain.

China's patent champion

Chinese companies have generally a strong interest in Blockchain and crypto-technology. In the year 2018, the Chinese government approved 790 Blockchain patents. China leads the countries compared significantly. Alibaba has made a significant contribution. According to a report in the China Securities Daily News, Alibaba is intended to have applications to 262 Blockchain patents filed.

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