Alibaba Amasses 2,588 Blockchain Patents, The Most Worldwide

Wednesday, 11 May 2022, 5:48 am
Press Release: Psychic Ventures Ltd

Alibaba Group has become the world's largest holder of blockchain patents. Stockapps.com has presented data showing that the Chinese e-commerce giant had 2,588 active or pending patents in 2021.

The firm has been investing heavily in BC as part of its plan to transform its supply chain and logistics businesses and StockApps' Edith Reads isn't surprised by its moves. She holds:

"Alibaba's dominance in this field is due to its commitment to innovation and forward-thinking. The company has been investing heavily in research and development for years, even before cryptocurrencies popularized blockchain."

Why is Alibaba keen on Blockchain investments?

The Chinese e-commerce giant's patent activity is part of an aggressive strategy to defend its business model against its competition. Competitors like Amazon and Walmart are also looking at reducing costs by adopting BC.

Besides streamlining their supply chains, they seek to use the technology to offer consumers new ways of shopping online or offline.

Where is Alibaba deploying Blockchain tech?

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The Alibaba Group has made strides in applying BC technology in financial services, cloud computing, and logistics management. Its Ant Financial Services unit owns and operates Sesame Credit, a credit scoring system based on BC technology.

Additionally, it runs an accelerator program for startups in this space and set up a dedicated research lab on blockchain technology. The firm's smart city platform, City Brain, is helping to manage 23 cities across Asia. The platform runs on Blockchain.

In August 2017, Alibaba Group unveiled its first blockchain-based intellectual property (IP) protection platform: Alibaba IP Protect. The platform uses blockchain technology to help companies protect their IP rights across multiple jurisdictions and industries.

About Alibaba

Alibaba Group is a Chinese multinational e-commerce company headquartered in Hangzhou, Zhejiang Province. It is one of the world's largest retailers by gross merchandise volume.

The company also has a strong foothold in China’s growing internet finance sector and an emerging fintech business with its Ant Financial spinoff. In addition to its core e-commerce platform, Alibaba operates some of China’s most popular social media platforms.

The full story and statistics can be found here: Alibaba amasses 2,588 blockchain patents, the largest worldwide

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