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Alipay’s Blockchain Was First Applied to Tmall Double Eleven Festival

Abstract : Alipay’s blockchain was first fully applied to Tmall Double Eleven Festival. This technology was not something new as it was tested last year and this week, it helps to trace, store evidence, verify digital ID and supply chain finance during the China’s Prime Day.

ChainDD
ChainDD

Nov 16

It’s reported in Chongqing Daily News that e-commerce platforms released many futuristic technologies which empowered this shopping carnival. Alipay’s blockchain was first fully applied to Tmall Double Eleven Festival. This technology was not something new as it was tested last year and this week, it helps to trace, store evidence, verify digital ID and supply chain finance during the China’s Prime Day.

It is said that over 400 billion goods online were added with blockchain IDs on the Double Eleven Shopping Festival. Alipay’s blockchain was first used to protect photos shared by buyers. The pictures of over 5 million goods and relevant intellectual property information were added to the blockchain within a second to prevent others from copying or avoid any forms of infringement.

What’s more, blockchain has become a solution in supply chain finance which helps 30 thousand small and medium size sells on Tmall to have supply chain loans during the 11th November. It won’t be difficult if they hope to have another online shop overseas. International sellers can easily have an online shop and get it verified immediately with a simple click of bottom to enter the global market via a global digital ID system supported by Alipay’s blockchain.

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