Despite the recent bans and media clamp down on blockchain in China, Yicai.com reports that Alibaba’s cloud computing arm, Alibaba Cloud, has officially launched its new blockchain service which furthers their exploration of blockchain technology.
The Senior engineer Yi Li says that cloud computing has brought about a revolution in productivity and believes that blockchain will drive new innovations in production services.
After carrying out extensive research, The senior software engineer and head of the company’s blockchain business believes that blockchain and its technology will be the “next most reliable infrastructure” for the Internet.
Yi Li said that the blockchain service boasts of flexible computing and massive storage capabilities and secure network interconnections based on their stable public cloud and private cloud.
Other reports also suggest that Alibaba Cloud’s blockchain technology has already been widely used in business scenarios such as supply chain finance and data asset transaction management.
Jack Ma, the founder and chairman of Alibaba, a strong believer and support of today’s technology believes that smart manufacturing, Internet of Things and blockchain are going to be the three core technologies of the future.
Sources: Asia Times, Yicai.com
Image Credit: XebiaLabs