Ant Financial Develops Product Tracking Blockchain Solution

August 29, 2018

Large China-based organization affiliate to Alibaba Group, Ant Financial, is now developing its BaaS-platform (blockchain-as-a-service) that is planned to be launched early autumn this year. The first application Ant Financial is intended to start will be aimed at tracking rice production cycle for product originality.

The solution is to be applied in the Heilongjiang province where the issue of counterfeit rice has been thrown into sharp relief over the last years. Since early October each package of “Wu Chang rice” sold in Tmalls will have a QR-code. Customers can checked the code out via Aliрау and thus gain complete information on the product.

Earlier the Australian division of Alibaba has announced launching a pilot-version of its own distributed ledger-based supply chain tracking solution for products delivered from Australia and New Zealand to China via Тmаll.

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