Chinese E-commerce Giant Alibaba, Aerospace Information Partner To Promote Blockchain Development

Blockchain, News | March 22, 2019 By:

Chinese e-commerce giant Alibaba has teamed with software company Aerospace Information to promote cloud computing services, smart industries, finance and blockchain.

Aerospace Information will reportedly cooperate with Alibaba to complement each other in technology research and development, product equipment and market channels, and promote the integration of new technologies to jointly create greater social and economic value. According to the firms they will jointly provide cloud solutions to promote the development of the blockchain industry.

“The two parties will take advantage of their respective brand technologies and practical experience to actively integrate resources and carry out in-depth cooperation in various areas of this agreement,” Aerospace said. “Through this strategic cooperation, it will be beneficial to the long-term development of the company’s related business, which will help the company to better serve the segmentation of the industry market and government and enterprise users, and create greater social value.”

In a recent interview, Liu Song, vice president of Alibaba Group, said that the company is considering blockchain technology implementation for cross-border supply chains to create a closed-loop ecological system that could be linked with local governments. He added that Alibaba also plans to develop new technologies such as Internet of Things (IoT) and blockchain in the fields of customs brokers, international logistics and trade finances.