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ThreeD Capital Inc. $ – #Blockchain Adoption Keeps Booming: China’s Alibaba $BABA Serious Partnership To Promote Blockchain Development $ $ $

Posted by AGORACOM-JC at 9:00 PM on Sunday, March 24th, 2019

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Blockchain Adoption Keeps Booming: China’s Alibaba Serious Partnership To Promote Blockchain Development

  • Chinese internet conglomerate Alibaba has signed a strategic with software development company Aerospace Information Co. to collaborate and leverage their expertise in cloud computing, smart industries, blockchain and more.

By Abhimanyu Krishnan

The 2 parties will be cooperating in several different ways.

China’s Securities Daily publication notes how the two will work on such things as taxes and finances for Small and Medium Enterprises (SMEs), and government integration for innovative solutions for authorities:

In the field of fiscal and taxation, the two sides will expand the application scenarios and explore and develop innovative products for SMEs. In the field of government affairs, we explore the integration and innovation of government solutions around the “Internet + government services”. In the field of blockchain, we will jointly provide cloud solutions to promote the development of the blockchain industry. In the field of enterprise market services, we will coordinate the implementation of credit reporting services and smart mobile office services.

It’s clear that both companies are focused on the long-term development of blockchain and its applications in a a variety of industries.

Alibaba previously announced its intentions to use its cloud services for blockchain technology. 

The internet giant has an Alibaba Cloud Blockchain-as-a-Service (BaaS) service which lets businesses build their own blockchain-based platforms and manage deployment, maintenance and operation conveniently. The service is based on Hyperledger Fabric.

The company has also made several other moves to promote blockchain technology, financing a variety show in which the use cases of blockchain technology were showcased.

China is very keen on digitizing its economy and building the smart cities of the future. The VeChain project has been associated with the Chinese nation to help in achieving this goal. Waltonchain has also partnered with Chinese entities with the intention of using blockchain technology to develop cleaner cities.

The world’s most populous nation is certainly attempting to grow blockchain development, although it is also cracking down on ICOs and STOs.


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