Alibaba, a Chinese e-commerce conglomerate, signs a strategic cooperation agreement with Aerospace Information Co., a major software developer and provider for cloud computing, blockchain and other technological services development.
As reported by the Chinese finance publication Securities Daily on March 21, the two parties have agreed to take advantage of their respective brand technologies in order “to actively integrate resources and carry out in-depth cooperation” in the fields of cloud computing services, government affairs, finance and taxation, and blockchain technology, among others.
The publication further states that Aerospace Information will partner with Alibaba will be working together in research and development in order to promote the integration of new technologies. It also adds:
“In the field of blockchain, we will jointly provide cloud solutions to promote the development of the blockchain industry.”
Vice president of Alibaba Group Liu Song, stated earlier this month in an interview that the company’s plans to implement blockchain technology for cross-border supply chains, with the possibility to link the ecosystem with local governments. Back in October, Alibaba had filed a patent application for a system backed with blockchain allowing for third-party administrative intervenience in a smart contract.