The Chinese e-commerce giant company Alibaba has recently entered into a serious partnership with the important software developer and provider Aerospace Information. Both the companies have signed a strategic cooperation agreement basically for cloud computing blockchain and other related services of technological development. The finance publication Securities Daily of China announced about the deal on March 21.
As per the reports of the Securities Daily states that both the companies will be utilizing their own technologies to integrate their resources and to perform their in-depth cooperation. The industries that are set to be affected by the new deal between both companies are cloud computing, finances, taxation, and government based administration.
According to the publication which mentions that Aerospace Information will partner with Alibaba, the e-commerce company and will work jointly in the field of research and development to boost the integration of new technologies.
Prior to this month, the vice president of Alibaba Group Liu Song mentioned while giving an interview that the company plans to execute blockchain technology for cross-border supply chains, and connecting the ecosystem with the local governments, the news was reported by Cointelegraph on March 7.
Aerospace Information also added,
“In the blockchain technology field, both the companies in collaboration will be offering cloud-based solutions to promote the development of blockchain technology.”
The main objective for the companies as per reports is to emerge with new methods to integrate the blockchain technologies which they have to create brand new products. They also desire to offer solutions which might help to grow the blockchain technologies in China and also help them to reach the next level.
Alibaba is one of the major e-commerce companies of China, and it is quite obvious that the company focuses on offering vital blockchain solutions to its clients. China has been a huge fan of blockchain technology, and it is not a secret anymore. However, cryptocurrencies are banned in most parts of the country.
Alibaba had in the month of October filed a patent application for a system that was powered by blockchain which would allow third-parties to intervene in smart contracts.