Alibaba Launches Blockchain-powered Initiative Amid Coronavirus Fears

Adoption Blockchain China Coronavirus

Author

Tim Alper

Author

Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Author Profile

Share

Copied

Last updated:

June 26, 2023 06:56 EDT

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

A number of Alibaba subsidiaries have begun offering solutions that operators hope will help companies trying to do business while the nation battles the coronavirus – including blockchain-powered online “contactless bidding” features.

Per media outlet Crypto Watch, Chinese financial media outlets are reporting that several Alibaba companies are involved in the new drive, including the e-commerce giant’s electronic pay platform Alipay.

The media outlets reportedly say Alipay will make use of blockchain technology-powered solutions in online bidding apps, enabling users to place “contactless” bids on products and services.

Other Alibaba business groups will also look to make use of blockchain technology in their efforts to stop business in the country screeching to a halt in the wake of the devastating coronavirus outbreak.

These include remote work support solutions provider Dingding, as well as Alibaba Cloud and more, all of which say they intend to use new tech solutions to allow businesses in the country to get back to work safely.

Contactless blockchain-powered payment solutions could potentially be adopted by Ele.me, the food-delivery chain that Alibaba paid just short of USD 10 million for in 2018.

The latest remote work-enabling solutions could also help organizations monitor their employees’ health status and transport, as well as a platform that would allow companies to apply for government permission to reopen their businesses.

Companies are being encouraged to allow employees to work from home wherever possible, and Alibaba Cloud has provided scores of companies with free access to many of its solutions to meet the massive rise in demand.
___

Learn more:
Crypto Events Postponed, Bitcoin Miners Struggle Due to Coronavirus Outbreak
Beijing Launches Blockchain Loans Platform for Coronavirus-hit SMEs