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Alibaba's import ecommerce platform Koala includes blockchain traceability system

Wednesday 18 March 2020 13:07 CET | News

China-based ecommerce company Alibaba has announced its import ecommerce platform Koala updated its products to include a full-link traceability blockchain system. 

Via the integration of Ant Financial’s blockchain in the Koala platform, online buyers are allowed to find out the purchasing goods detailed logistic information through scanning a QR code with Alipay. Moreover, the updated Koala application is designed to provide consumers with a traceable icon after completing the purchase on the order page. A blockchain QR code and an anti-counterfeit fingerprint sign will be added on the page. 

Alibaba Group bought Koala for about USD 2 billion in 2019. The plan for Koala is to continue to apply blockchain to platform merchants and overseas direct mail services and to reach 62 countries and regions with 2,897 product categories and 7,432 brands. Adding blockchain tech to the import ecommerce platform, Alibaba can address the industry's traditional pain points like tracking, mismatching goods and logistics information, and difficulty determining responsibility for the logistics chain.

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Keywords: Alibaba, ecommerce, blockchain, traceability system, China, online payments, QR code, purchase
Categories: Payments & Commerce
Companies:
Countries: China
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