Alibaba Group Holding Ltd (NYSE:BABA), a China-based e-commerce giant, has announced the integration of blockchain technology to protect intellectual property (IP). The company will integrate the blockchain based technology into the IP system of brands and enterprises across the world. It plans to complete the entire integration by September 2019.
Director (Intellectual Property Rights) of Alibaba, Ali Xizhi said the company started the filing of IP using blockchain technology. The company plans to complete the entire process by September. It will expand the use of blockchain for digital copyright protection that includes visual content.
Allows electronic deposits
The upgraded system will enable deposits electronically from global brands with a direct link using the blockchain based IPP platform to Internet Court and provides a basis for protecting litigation rights.
Three Internet Courts
China has established three internet courts in Guangzhou, Beijing, and Hangzhou. Its main aim is to allow the filing of complaints online and manage the internet related cases.
The major software provider and developer, Alibaba and Aerospace Information Co have agreed in March 2019 to use the respective brand technologies for integrating the resources and conduct in-depth cooperation in finance, cloud computing, government affairs, taxation, and blockchain technology.
Liu Song, Vice President of Alibaba Group, revealed in March 2019 that Alibaba plans to use the blockchain technology for supply chains overseas and across the border and considering linking to local governments. According to the Security Daily News, Alibaba applied two hundred sixty-two blockchain patents.
The share price of Alibaba is moving downwards. It trades at $155 (down 0.64%) on May 24, 2019.
AI-powered mobile application
Alibaba and L’Oreal Group, a global cosmetics company, is all set to introduce an AI-powered mobile testing application to target acne. They have designed an app called Effaclar Spotscan for people suffering from acne. According to a release of L’Oreal Group, the dermatologists have limited access to the AI-powered app.
They plan to introduce Effaclar Spotscan on Alibaba’s Taobao and Tmail
e-commerce apps in June 2019. The duo will introduce the app later across the
world. L’Oreal Group sees China as the innovation and digitization hub. It
intends to become a champion in the beauty tech companies.