10% of Worlds Blockchain Patent has Filed by Chinese Giant Alibaba...#Acquire Blockchain!

One more step taken by China to conquer another financial platform in the world. According to Thomas Reuters, in 2017, 56% of all 406 patents in blockchain technology was issued to China, whereas US got only 22 %. And among 406, 43 alone were filed by Alibaba, followed by Tencent and Baidu, another Chinese giants. However, US still leads the race with maximum number of patents all over.

Despite of complete ban on Cryptocurrency, China still sees it as a major future technology that has an ability to shape the future and world economic system. China wants to hold the major component of this technology to hold the sound financial grounds all around.

Alibaba has joined hands with Wuchang municipal government in China's northeastern Heilongjiang Province to enter in a blockchain technology to check food fraud and to win customers confidence. Wuchang is renowned for its special super quality rice and the partnership will help in bringing together Internet of Things tracking solution and a blockchain will make sure that every pack of rice sold on Alibaba will have a supply chain that is completely visible to customers through a QR code.

The company is already working in Australia and New Zealand in same field as also planning to expand its operations in healthcare field!

I hope these steps will make the blockchain technology more sound and global! Keep Steeming Friends!