On April 12, Alibaba Cloud released a new blockchain solution for Tmall Luxury Pavilion, offering the world's first authenticity tracing function based on blockchain technology. This solution is designed to further build and expand the ecosystem of luxury supply chain applications.
With Alibaba Cloud blockchain technology, Tmall Luxury Pavilion can integrate and record the data of raw material manufacturing, circulation, and marketing processes in blockchain. Every single piece of brand information has a unique blockchain "ID card", with the digital signature and timestamp for query and verification by consumers.
In the future, consumers will only have to find an order on Luxury Pavilion and click the Trace button or scan the product QR code to view the blockchain code, product origin, number of declaration for entry, time of declaration for entry, and other details.
Data shows that Luxury Pavilion has nearly 100,000 active members spending more than RMB 1 million per year since its launch six months ago. Luxury Pavilion has closely cooperated with LVMH, Estée Lauder Group, Swatch Group, L'Oreal Group, PVH Group, and other four global luxury groups. 50 world's top luxury brands including Burberry, Baccarat, Bonpoint, Givenchy, Guerlain, Hugo Boss, and Hennessy have a presence on Luxury Pavilion, offering products ranging from entry luxury goods to costly luxury goods, from clothes, leatherware, skincare products to watches.
A blockchain project involving so many categories requires comprehensive capabilities in data processing, resource scheduling, security, and accessibility. According to relevant officials, Alibaba Cloud's blockchain solution has its unique advantages in solving these problems. "Alibaba Cloud has 43 public cloud zones across 18 regions all over the world which can support large-scale commercial blockchain applications. In the meantime, hardware encryption at the chip level along with unique and accurate identity authentication can protect user privacy. Users will benefit from its rapid deployment, flexible cost control, reliability, and security."
Alibaba Cloud's global cloud computing centers and high-speed and reliable enterprise networks provide a solid infrastructure for building an international blockchain traceability alliance, and facilitate the construction and expansion of the ecosystem of luxury supply chain applications along with Alibaba Cloud's advanced artificial intelligence services and professional enterprise service solutions.
Since October 2017, Alibaba Cloud has launched a series of blockchain solutions ranging from traceability, anti-counterfeiting, supply chain finance, copyright certification, and digital assets so as to accelerate enterprise business innovation. Alibaba Cloud supports the open source Hyperledger Fabric as well as proprietary blockchain technology developed by Ant Financial. Users can customize target contracts and program automatic execution of the required transactions. Hyperledger Fabric is an open source community project that is compatible with native standards.
Ant Financial, with 49 patents, tops "2017 Global Enterprise's Blockchain Patent Ranking" and participates in the preparation of National Blockchain and Distributed Accounting Technology Standardization Committee. Its blockchain standards highlight privacy protection and support for native ciphers and provide high performance, high reliability, and cross-chain compatibility at the financial level.
Blockchain as a Service (BaaS) of Alibaba Cloud can be deployed in Apsara Stack, public clouds, and cross-enterprise hybrid clouds, supports custom creation of private blockchain and consortium blockchain, and offers blockchain services to different types of blockchain participants. It is said that Alibaba Cloud's blockchain solution already has several Internet financial, industrial, and publishing enterprise users.
For more information, visit the following links:
Alipay Technology - August 21, 2019
Alibaba Cloud Community - October 28, 2021
Alibaba Cloud Blockchain Service Team - January 17, 2020
Iain Ferguson - January 18, 2022
Alibaba Clouder - September 26, 2018
Alibaba Clouder - January 4, 2021
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