Credits and Alibaba Cloud Team Up to Enter the Chinese Market With Blockchain-Based Solutions in Logistics
Credits.com, an open-source and fully decentralized blockchain software platform, together with Alibaba Cloud is moving into the Chinese market of logistics with new smart solutions for business. The logistics industry covers manufacturers, customers, suppliers, auditors, etc. Credits Blockchain technology offers advantages for everyone in this chain.
Credits.com and Alibaba Cloud offer several business models to overcome the variety of logistics industry problems.
By merging advanced technologies, both innovating companies have showcased a product that is capable of adding much more value to the parties involved than just streamlining operations and reducing costs in 3PL business models.
The new model begins with special, easy-to-produce and inexpensive programmable frequency sensors that are installed inside the shipping container. These sensors will be able to track the temperature inside the container along with other data and to store it in an immutable database, such as the Credits blockchain.
“China is a thriving market of online purchased goods and the country is actively exploiting this segment. We have developed a lot of solutions that needed to be taken to improve a sector as diverse and immense as logistics in a country with a population of well over 2 billion”, - CREDITS.COM CEO, Igor Chugunov said.
The modern customers are increasingly asking for personalization, customization, security, improvements and amenities in payment and delivery services. The problems of lack of trust between the parties involved in product supply processES and the associated excessive costs hinder the growth of the logistics industry and the purchasing power of both private and corporate buyers.
The Smart Payment Service based on the Alibaba Cloud and the Credits blockchain platform is one of the most advanced solutions for the logistics industry. This product, built on the Credits blockchain, provides secure transactions between the seller and the buyer through the express delivery service provided by logistics providers such as DHL. The combination of Credits blockchain smart contracts, Alibaba Cloud infrastructure and payment systems that provide APIs for free access, such as Alipay, has led to a convenient and user-friendly service that aims to revolutionize the logistics industry in China and all over the world.
“Actually, there are a lot of aching problems in logistics right now. And blockchain offers the solution, it is the catalyst of global technology development today. Various operations can be easily reconfigured via Smart Contracts and Clouds, which is a great opportunity for customers to help themselves. Both customers and companies really get lots of benefits”, - Yuli Bai, CEO of Lenovo New Vision.
As such, the Chinese logistics industry’s reliance on technology and the startups capable of providing advanced management technologies, such as blockchain, AR, VR, AI, and IoT is increasingly growing. The emergence and gradual introduction of these technologies are definitely the factors that will disrupt the current model of the logistics industry in China and Credits.com blockchain technology may well provide the foundation needed for the adoption of such technologies.