Chinese E-commerce Giant Alibaba Trialing a Blockchain Platform to Prevent Food Fraud
This new program will utilize the blockchain-based Food Trust Framework to trace international shipments to China from Australian healthcare supply firm Blackmores and New Zealand dairy product maker Fonterra via Alibaba’s T-Mall e-commerce arm, as reported to ZDNet report Friday.
This news follows the announcement made by Alibaba Australia since the platform’s year-long technological development regarding the partnership with PwC and Blackmores in March 2017 to expand the system to surface the spread of counterfeit products.
Lauding supply chain transparency as a prime benefit of the framework, Alibaba said the pilot – if successful – could head to broader adoption across the supply chains for its worldwide markets.
The research marks Alibaba’s latest move to harness blockchain’s perspective in the fight against food fraud – criminal activity that the company measures costs the global food industry $40 billion each year, the report said.
Alibaba’s T-Mall platform has already begun adopting blockchain technology in partnership with logistics firm Cainiao in its cross-border supply chains.
Previously, Coindelite has also reported about Alibaba and Baidu collaborating to launch Blockchain Academy.