Amazon, Microsoft & Alibaba: Centralized Companies Into Decentralized Ecosystem

dr.Gachet

dr.Gachet

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It's no secret that eCommerce giants set trends on the modern market — the way they use blockchain technology can tell a lot about the future of the industry. Blockchain has become the basis of many new decentralized apps and technologies, but internet giants' interest intensity for the blockchain is still relatively low. However, in the first quarter of 2018, three key eCommerce players — Amazon, Microsoft and Alibaba — announced about implementation of distributed registry technology (Blockchain). How exactly do these companies use blockchain technology and what new possibilities of its application can arise from their experience?

Amazon

Rumors about Amazon's interest in bitcoin and other crypto currencies have been going for several years. This year, the Internet giant took concrete steps, buying three domains associated with digital currencies.

As a reminder, Amazon registered the domain amazonbitcoin.com in 2013. Currently, it is being redirected to the Amazon website. In addition to amazonbitcoin. com, the company owns another three crypto domains — amazonethereum. com, amazoncryptocurrency. com and amazoncryptocurrencies. com.

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However, it remains uncertain how exactly the retailer plans to use the domains and whether it plans to accept cryptocurrencies. There is a more fantastic hypothesis (though not supported by facts) which is that Amazon is going to launch its own crypto exchange.

The retail giant has already proved that it doesn't want to lag behind in the development of new crypto tools. According to the most recent report published by the US Patent and Trademark Office (USPTO), Amazon has patented a technology that allows to receive data on crypto transactions in real time.

The patent showed that Amazon has developed a technology for processing large-scale data streams with relatively low latency. This allows the company's engineers ‘to create monitoring dashboards, intercept errors and generate alerts, give recommendations and make business or operational decisions in real time.’

The Amazon services will be able to process data coming from various sources: "clicks on websites, marketing and financial data, control information, workbooks, measurement results, information on social networking activities, etc."

Microsoft

At the World Economic Forum-2018, Microsoft (NASDAQ: MSFT), the United Nations and Hyperledger have announced about joint developing blockchain-based digital passports.

According to the Microsoft blog, the blockchain is great solution for data storing, protecting and distribution. Microsoft has confirmed that it will continue to "explore the possibilities" of the blockchain technology via its Authenticator app, designed for two-factor authentication. As part of the ID2020 alliance, Microsoft, the UN and Hyperledger intend to improve data storage systems and empower users to manage personal data.

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ID2020 will include large companies and government structures. The goal of the alliance will be to create an authentication process for individuals and companies, which allows users to store and manage their personal documents. The alliance has already received a donation from Microsoft of $ 1 million, as well as contributions from Accenture and the Rockefeller Foundation. In June 2017, Microsoft and Accenture introduced a blockchain prototype for ID2020, at the same time the United Nations has used the Ethereum blockchain for aiding to Syrian refugees.

Alibaba Group

Earlier this year, the largest Chinese online trading platform (NYSE: BABA) has announced about launch of a test platform which allows to conduct the orders through blockchain based Food Trust Framework. The pilot program will allow to track food supplies from Australia and New Zealand to China.The company hopes that all Alibaba Group's international supply chains can be transferred to a new technology over time.

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Alvin Liu, general manager of T-Mall Import & Export, said earlier that externally manipulating food products "is a global problem, particularly with reference to the growing complexity of supply chains."

Alibaba aims to ensure transparency and traceability of goods from the initial point to the receipt. Ultimately, this will increase consumer confidence and create a conducive environment for international trading in the T-Mall Global system.
 
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