Australia Post Joins Alibaba to Use Blockchain in Counterfeit Food Crackdown in China
Australia Post has announced partnerships with Alibaba, the world’s largest e-commerce company and Blackmores, a prominent Australian natural health company to explore blockchain technology to curb the rise of counterfeit food sold in China. The joint endeavor will look to develop a blockchain platform to improve the traceability of food products, with Australia Post being a major exporter of food to China. In recent years, counterfeiters have notably targeted popular Australian export such as beer and wine, honey and cherries, nuts and health supplements, according to an announcement.....
Related News
E-commerce is a booming business, as more and more consumers complete their purchase online. But there is one major problem plaguing both e-commerce and brick-and-mortar shopping, and that is counterfeit goods. Verifying the integrity of a product, especially when it is sold by a third-party vendor, is impossible until it arrives at the recipient’s doorstep. Alibaba, one of the largest e-commerce platforms in China, launched TaoProtect for counterfeit reporting purposes. Even though Alibaba is often referred to as the largest e-commerce platform in China, there has been vast interest from....
The International Business Times reports China might nationalize Alibaba. Here’s what that has to do with China’s digital currency efforts.
In February, Bitcoin Magazine reported that Alipay, an online payment platform of the Chinese e-commerce corporation Alibaba Group Holding Ltd., had announced a project based on blockchain technology and cloud services. The announcement indicated the growing interest of Alibaba in distributed ledger technology. Now, it appears that the Chinese giant is gradually committing to the blockchain. Ant Financial, the Alibaba company that operates Alipay, is using distributed ledgers to transparently record transactions and improve the accountability of Chinese philanthropic organizations,....
Any sellers that list crypto miners or relevant products on Alibaba’s platforms after Oct. 15 will face significant penalties. Chinese e-commerce giant Alibaba is the next company to wrap its cryptocurrency-related services in response to the ongoing crypto crackdown in China.Alibaba officially announced Monday that its platform will prohibit sales of cryptocurrency miners and suspend categories for blockchain miners and accessories from its website on Oct. 8.In addition to stopping sales of crypto mining devices, Alibaba will impose a ban on using its platforms to sell major....
Blockchain technology has emerged as a tool for addressing an important global issue: the growing complexity of the food supply chain and the increasing amount of wasted food, according to a senior research fellow at the University of Surrey. Writing in The Conversation, an online source of information from the academic and research community, senior research fellow, Phil Godsiff said that a recent analysis suggested that half of U.S. food production is wasted, with global estimates above 30 percent. The growing use of sensors in the food supply chain, paired with blockchain technology,....