Alibaba is moving cross-border e-commerce into blockchain

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According to the information from China's Xinhua News Agency on Wednesday, the partnership aims to transfer information about goods for import and export to blockchain, which can then track the country of origin, port and mode of delivery, port of arrival and customs report data.

The new launch is Cainiao, from which Alibaba is an investor, is doubling down on its confidence that blockchain has significant potential for adoption of cross-border e-commerce.

Thanks to this partnership, Chinese consumers from different cities covered by Cainiao, including Shanghai, Guangzhou and Shenzhen, will be able to track logistic information based on blockchain for approximately 30,000 products from 50 countries via a mobile e-commerce application.

The partnership also notes Alibaba's last step, aimed at increasing consumer confidence in the fight against counterfeit products.

Alibaba last year has collaborated with PwC to develop a system that aims to reduce food fraud using blockchain technology, called Food Trust Framework.