Express
Ant & Alibaba Sign A Blockchain Deal With COSCO Shipping
Summary: On June 6, 2020, Ant Group and Alibaba Group signed a deal with COSCO Shipping to explore using Ant Blockchain technology for the global shipping industry. COSCO is the third largest container shipping company in the world and is also a member of Global Shipping Business Network (GSBN).Ant stated the motivation is to address the ...
On June 6, 2020, Ant Group and Alibaba Group signed a deal with COSCO Shipping to explore using Ant Blockchain technology for the global shipping industry. COSCO is the third largest container shipping company in the world and is also a member of Global Shipping Business Network (GSBN).
Ant stated the motivation is to address the complexity of the shipping process as well as the numerous steps involved with many participants. Blockchain aims to link all the organizations from logistics providers and shipping companies to ports and financiers. Ant specifically highlighted supply chain finance, which is the top use case for enterprise blockchain in China.
“Through Ant Group’s blockchain technology, we look forward to supporting the digital transformation of the global shipping industry. We are working with COSCO SHIPPING to make it easier and more efficient to trade globally,” said Eric Jing, Executive Chairman of Ant Group.
Tracy Chen
