In recent years, Alibaba has been investing heavily into blockchain technology. The company has shown its interest in blockchain through a number of projects.
1.Blockchain with healthcare technologies
● They are aiming to be a leader in applying Blockchain technology to China’s medico sector; Alibaba has established a partnership with the Chinese city government to secure healthcare data over a blockchain.
● Alibaba Health Information Technology Ltd., Alibaba, a group company that collaborates with the medical field, is trying to apply medical applications of blockchain technology in Changzhou, Jiangsu Province, China.
This system also provides doctors with more efficient patient health diagnostic information as well as patient medical records.
● As Ali Health announced, the advantages of utilizing blockchain technology are the following:- Authorized doctors will instantly be aware of a patient’s medical history and any accompanying information about health examinations. This will help doctors avoid any repetitions of basic health exams to take care of patients more quickly. As a result this will make treatments more efficient as well as cheaper.
- With a less-expensive, and highly secure blockchain solution, the project is expected to solve problems of information silos or data security that have been plagued the in healthcare industry for a long time.
- Most notably, the blockchain will be compatible with existing medical systems.
● In order to work, Ali Health will install several “data security nets” for the project which is where sensitive medical data will be stored and transferred in “ciphertext” - the result of encryption performed on plaintext by using an algorithm. The data will only be accessible by those with operational privileges.
2. Blockchain with a charity project through an Alibaba affiliate
● Ant Financial, the affiliate of Alibaba, is moving to apply Blockchain technology to a charity project.
● The project – spearheaded by Ant Financial's charity arm, named Ant Love – was first launched last summer. At the time, the company said that it was utilizing Blockchain technology in order to "bring more transparency to the charity".
● In detail, Ant Love has said the platform is designed to enable greater visibility into donor histories, charity disclosures, and other kinds of information that may be involved.
● According to the South China Morning Post, Ant Financial is planning to attract more companies to the platform, especially, donor organizations, charities and media groups.
3. Blockchain with Smart city project
● Peng Yijie, vice president of the Ant Financial Service Group and co-founder of the Alibaba Group Holding Limited, has offered a design plan for Xiong’an city to be a "smart city".
“Smart City” project is that planning to build a future city (smart city) centered on IT technology and artificial intelligence (AI). It aims at establishing an international Internet model city and building a digital, highly secure, trustworthy smart physical distribution center system. Also, the blockchain is expected to be introduced in community service, administrative affairs or business fields.
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