According to a March 17 Report by Sina Finance, Chinese e-commerce giant Alibaba revealed its import e-commerce platform Kaola has updated its goods to include a full-link blockchain traceability framework.
Kaola platform allows buyers to trace detailed information
The report revealed that the incorporation of the blockchain of Ant Financial into the Kaola platform enables online shoppers to find out accurate logistic details about the buying products by scanning a QR code with Alipay.
The revised Kaola framework is designed to provide customers with a traceable icon on the order page after the purchase is complete. A blockchain QR code will be attached to the page along with an anti-counterfeit fingerprint symbol, the source says.
In late 2019 Alibaba Group purchased Kaola for around $2 billion. A journalist told local news that after the acquisition, this blockchain traceability framework was created.
Kaola aims to continue to apply blockchain to merchants networks and direct mail services overseas, and to hit 62 countries and regions with 2,897 product categories and 7,432 labels.
Alibaba told local media that adding blockchain technology to the e-commerce platform for imports will fix the conventional pain points of the industry such as monitoring, misalignment of products and logistics details and difficulty in deciding responsibility for the logistics chain.
Blockchain becoming popular in the logistics industry
As previously reported by Newsccm, Airfreight company is implementing blockchain technology to save its business $400 M a year and IBM Indonesia has entered the blockchain-based shipping network of TradeLens.