Alibaba's Tmall.hk to Use Blockchain Technology to Ensure Quality of Imported Goods
(Yicai Global) Feb. 27 -- A cross-border e-commerce platform under the Chinese e-commerce giant Alibaba Group Holding Limited, namely Tmall.hk, and its logtics platform Cainiao Network Technology Co. will apply blockchain technology to trace and monitor the whole process of imported goods from producers to consumers. The move aimed at ensuring quality of such products and health and safety.>
Blockchain technology will provide unique identification card for imported goods for consumer inquiry and verification, online news outlet Iyiou.com reported today. The ID card can trace the whole process of production, transport, customs clearance, inspection and third-party inspection of the goods, both firms said today.
The initiative will cover such bonded ports as Shanghai, Shenzhen, Guangzhou, Hangzhou, Tianjin, Ningbo, Chongqing, Fuzhou and Zhengzhou, and includes 30,000 kinds of imported goods from more than 50 countries.
"Blockchain technology has only recently emerged, but it has broad application prospect in cross-border e-commerce. It can guarantee the authenticity of the products," said a technical director of Cainiao. It would be as hard as landing in Mars if people try to tamper with the data on blockchain, the director claimed.
Alibaba unveiled Tmall.hk in February 2014 to provide imported goods to China's consumers. Cainiao an intelligent logtics platform of the company formed through partnership with several logtics firms in 2013.