Alibaba And Credits Leading The Chinese Blockchain Market

Alibaba and Credits are the leaders for blockchain solutions on the Chinese market according to the latest statistics that we have in our cryptocurrency news today.

The open-source decentralized blockchain solutions provider Credits and Alibaba Cloud are even launching operations in the Chinese logistics market. The solution was launched by Alibaba and Credits for solving the multiple issues in the logistics market using blockchain technologies and the approach will be implemented in multiple business models involving 3PL. The business model is being employed under the 3PL approach which includes the use of low-cost and versatile frequency sensors that will be installed inside the shipping containers in order to monitor the movement and status via the Credits blockchain database. The CEO Igor Chugunov of Credits stated:

 “China is a thriving market of online purchased goods and the country is actively exploiting this segment. We have developed a lot of solutions that needed to be taken to improve a sector as diverse and immense as logistics in a country with a population of well over 2 billion.’’

With the increasing demand for personalization of modern customers and the lack of trust between the participants in the logistics chain, the use of the credits platform blockchain aims to offer a variety of added benefits to the industry. By using the Smart Payment Service based on the combined Alibaba cloud and Credits blockchain platform is the preferred solution that is currently being implemented but he companies on the market. The credits blockchain guarantees secure transactions between the parties to the delivery process. The CEO of Lenovo New Vision Yuli Bai said:

 “Actually, there are many aching problems in logistics right now. And blockchain offers the solution, it is the catalyst of global technology development today. Various operations can be easily reconfigured via Smart Contracts and Clouds, which is a great opportunity for customers to help themselves. Both customers and companies really get lots of benefits’’

Using secure smart contracts and immutable blockchain database which are provided by the Credits platform is actually a technologically advanced and reliable solution for the many issues of the Chinese logistics market.