E-commerce titan Alibaba will reportedly assimilate blockchain technology with its intellectual property arrangement of global brands and enterprises. The move was recently reported by local Chinese outlet Sohu.
According to reports, Alibaba’s director of Intellectual Property Protection Ali Xizhi said that the company is currently upgrading the registration of intellectual property rights via the use of blockchain. The Chinese company is planning to put the technology into effect by September. They will then expand it to include digital copyright protection, which also encompasses visual content.
Alibaba’s system will apparently permit electronic deposits from global brands to link straight to the Internet Court via the blockchain-backed Ali Intellectual Property Protection Platform (IPP Platform), giving it a foundation for litigation rights safety.
China is said to have organized three Internet courts in Beijing, Guangzhou, and Hangzhou. These courts are tasked to handle internet-related suits and lets plaintiffs file their petitions online.
Several months ago, Alibaba and software developer Aerospace Information Co. agreed to utilize their respective technologies to “integrate resources” and work together in the areas of government affairs, finance, taxation, cloud computing services, and blockchain technology.
Alibaba to Start Using Blockchain-Powered Tech
Liu Song, the Alibaba Group’s vice president, also revealed back in March that the company has plans to start using blockchain-powered technology for cross-border supply chains, with the option to connect with local governments.
Jack Ma’s company appears to be embracing blockchain technology and adapting it improve his conglomerate. A recent Securities Daily News report announced that Alibaba has 262 blockchain patent applications in the pipeline.