Chinese e-commerce behemothic Alibaba announced its import e-commerce platform Koala has updated its products to include a full-link traceability blockchain arrangement on March 16, co-ordinate to a Sina Finance study from March 17.

Blockchain increases logistic transparency

The report revealed that the integration of Ant Financial's blockchain in the Koala platform allows online buyers to detect out the purchasing goods detailed logistic information through scanning a QR lawmaking with Alipay.

The updated Koala awarding is designed to provide consumers with a traceable icon afterward completing the buy on the gild page. A blockchain QR code and an anti-counterfeit fingerprint sign volition be added on the page, says the source.

Alibaba Group bought Koala for virtually $2 billion in late 2022. A announcer told the local news that this traceability blockchain system was developed later on the acquisition.

The plan for Koala is to go on to apply blockchain to platform merchants and overseas straight mail services and to reach 62 countries and regions with 2,897 product categories and 7,432 brands.

Alibaba told the local media that adding blockchain applied science to the import due east-commerce platform can accost the industry'southward traditional pain points like tracking, mismatching goods and logistics data, and difficulty determining responsibility for the logistics chain.

Blockchain becomes popular among logistic industries

As Cointelegraph reported previously, air cargo company is adopting blockchain technology to save $400M a year for its manufacture and IBM Republic of indonesia joined TradeLens's blockchain-based shipping platform.