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Blockchain, Cosco-Alibaba alliance

by Port News Editorial Staff

CHINA Cosco Shipping Corp, Alibaba and its subsidiary Ant Group join forces to look for new solutions in the blockchain field.

The strategic agreement was signed yesterday and will enable the shipping giant and the world’s largest B2B online exchange platform to implement the use of new technologies to connect ports and players in the logistics system.

Cosco will collaborate with Ant on various aspects, trying to make data and information accessible through software able to integrate operational aspects and economic variables and to interact directly with the relevant Blockchain, thus ensuring a high level of decentralization and data integrity.

Translation by Giles Foster

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