Alibaba - the world’s biggest FinTech company which is capitalised at over $453Billion - is planning to use Blockchain and Internet of Things (IoT) for its vast international logistics and supply chains. Alibaba has been experimenting with Blockchain for a while with its Food Trust Framework as it tries to improve transparency, help customers track goods and ensure their authenticity. By using QR codes customers will be able scan goods and have greater certainty over products' provenance.
Given Alibaba’s distribution and financial clout, one wonders how long it will be before it launches the AliCoin as a possible way to encourage and reward customers in some form of loyalty scheme. An AliCoin could then be exchanged for goods and services as Alibaba continues its expansion into banking and financial services with Alipay.
By using QR codes customers will be able scan goods and have greater certainty over a products' provenance.
