Alibaba's T-Mall to Use Blockchain for Shipping

E-commerce giant is adopting blockchain technology in its cross-border supply chain
01 March 2018   558

The platform for e-commerce T-Mall of the Chinese giant Alibaba Group will transfer cross-border supply chains to the blockbuster. The project is implemented jointly with the logistics company Cainiao, Coindesk reports.

According to the publication, within the framework of the partnership it is planned to transfer data on imported and exported goods to the blockchain, which will track the country of origin, ports of departure and arrival, as well as all the necessary customs information.

Note, Alibaba is an investor in Cainiao. The latter previously announced that it sees in the blockbuster a huge potential for application in the field of cross-border e-commerce.

It is alleged that thanks to the new project, residents of various cities in China, including Shanghai, Guangzhou and Shenzhen, will be able to track the logistics data of more than 30,000 products from 50 countries via mobile applications.

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   83

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.