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Alibaba Patents Blockchain System In Brazil

12 March 2020 16:05, UTC
Alibaba Patents Blockchain System In Brazil
By Anna Martynova

The Chinese e-commerce giant Alibaba has registered a patent for a blockchain system called Ant Unicorn in Brazil. The patent covers real estate services, credit card payment systems, utility bills, invoice processing and enhanced security in transaction processing.

Blockchain technology is gaining popularity in Brazil. On July 12, 2019, the Brazilian state of Bahia launched a blockchain application to track the tender procedure under government contracts. In September 2019, birth certificates were issued on the blockchain in Brazil. In February, it became known that the federal government of Brazil allocated about $5.7 million for research on blockchain technology, and it is also planned to issue diplomas of non-state universities on the blockchain. 14 universities have already shown their interest.

Alibaba has been interested in blockchain for a long time and owns a number of technology patents. This was confirmed by Ant Financial CEO Jing XIANDONG. To date, the company has already implemented blockchain to prevent fraud in the food industry, to ensure the safety of medical data, and track cross-border shipments.

Image courtesy of Rttnews



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