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How do Amazon, Microsoft and Alibaba use Blockchain technology today?
Editorial Team

During the first semester of 2018, three modern-day Internet giant – Amazon, Microsoft, and Alibaba have each readied their own foray into Blockchain.

Amazon

The time that the rumors lasting over 4 years wanted Amazon to accept Bitcoin, the company bought three new crypto-related domains earlier this year.

The news began when Amazon in 2013 purchased the domain amazonbitcoin.com – at present the address redirects to Amazon.com.

Amazon now officially owns the domains amazonethereum.com, amazoncryptocurrency.com, amazoncryptocurrencies.com.

It remains so far uncertain if the company is planning to accept digital currencies as a payment method or even the firm could invest in launching its own cryptocurrency exchange.

However, the internet giant has proved that it is unwilling to be left behind in the development of new tools to support cryptocurrency users.

A document released by the US Patent and Trademark Office (USPTO) revealed that the company was granted a patent earlier this year which will allow users to receive cryptocurrency transactions data as it happens. .

According to a coininsider.com publication, the patent revealed that Amazon developed technology for processing large-scale data streaming with relatively low latency. This, in addition, allows Amazon developers to “build real-time dashboards, capture exceptions and generate alerts, drive recommendations, and make other real-time business or operational decisions”.

The different services provided by Amazon would be able to process the data information from various sources, such as “web site click-streams, marketing and financial information, manufacturing instrumentation and social media, operational logs, metering data and so forth”.

Microsoft

During the 2018 World Economic Forum, Microsoft, the United Nations, and Hyperledger announced a joint bid to develop digital identities by using Blockchain technology.

In an official blog post, Microsoft’s Identity Division opined its view that Blockchain tech is the correct medium to store, maintain, protect and distribute a user’s information in a tamper-proof environment.

Moreover, it was confirmed by the company that they would proceed to “explore possibilities” within its Microsoft Authenticator app, which users can employ to manage their two-factor authentication needs when signing into websites.

The three parties will cooperatively rework how private persons can hold ownership over their personal data by leveraging Blockchain tech under the banner of the ID2020 Alliance.

According to coininsider.com, ID2020 would see conglomerates and governmental structures collaborate to create an authentication process for people and institutions, wherein users could be able to store their personal identity documents.

The Alliance has received a $1 million donation from Microsoft, Accenture, and the Rockefeller Foundation.

Microsoft and Accenture unveiled a Blockchain prototype for the ID2020 Alliance in June of 2017, while the United Nations has used the Ethereum Blockchain to distribute essential supplies to refugees in Syria.

Alibaba

Earlier this year, the gigantic e-commerce company Alibaba announced the launch of a trial platform, which will see orders made through the company’s new initiative – the Food Trust Framework – in an attempt to improve supply chain tracking.

The pilot program will use Blockchain tech to track food shipments to China from Australian and New Zealand at the beginning.

If this program is successful, Alibaba hopes all international supply chains applied across the Alibaba Group of e-commerce could be based on the Blockchain framework built for this project.

Alvin Liu, the Alibaba Group general manager of T-Mall Import & Export, has said that the activity of food fraud “is a significant global challenge, particularly with the growing complexity of supply chains“.

Alibaba’s vision is a trusted environment for international commerce across Alibaba’s T-Mail Global system which will ultimately improve consumer confidence.

According to the same publication, reportedly, products will also be tagged with QR codes – barcodes which are a machine-readable – in addition to the innovative use of Blockchain technology. Alibaba has confirmed that the technologies “are designed to authenticate, verify, record, and provide ongoing reporting of the transfer of ownership and provision of products and goods“.