Alibaba, the Chinese technology and financial services big gun has gone further with its investment in blockchain technology and now filed a patent in Brazil for a system which is based on the blockchain-powered transaction. Industrial Property Magazine<a href="https://s3.cointelegraph.com/storage/uploads/view/9931620bf17590e156ebcb9b464a4009.pdf?_ga=2.23041339.1670965791.1583840636-1994384641.1582021281"> reports</a> that Alibaba filed for the patent, and it would be looking to aim at multiple areas, including real estate, financial services and insurance. The system is labelled as Ant Unicorn, and it would be utilized in credit card payments, to uplift transaction processing security, bills and more. It would also serve the purpose of granting loans.
<h2>Alibaba's Fondness For Blockchain Nothing New</h2>
Alibaba has loosened its pocket heavily in blockchain technology and is one of the leaders in this department. It makes the elusive list of the best five blockchain patents investors, holding the 5th spot, behind outright leader nChain, tech giant IBM, financial services firm Mastercard and digital currency company Coinplug.

Last month, the company played a humongous role and helped top Chinese companies fight china against coronavirus. Alipay, its payment platfrom, the company is now eyeing the segment of online bidding, where make customers access online bidding apps on goods and services online bidding. After the system passes successfully. Alibaba is looking to add it to its online food delivering platform, Ele.me.

Earlier, Alibaba filed a patent for a management system, a blockchain-powered domain. It would be utilized across different blockchains for their managing. This system would be beneficial in enhancing the security of the domain while also increasing the rate of blockchain adoption. Alibaba new domain system would also provide a unique name to each domain, which will also possess a linked chain identifier.

When a big company like Alibaba goes to this extent to adopt the blockchain-based platform and put in bundles of cash in its technology, it is a sign and portrays  the growing acceptance of blockchain as a meaningful tool.

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Alibaba Files Patent For a Blockchain-Based System in Brazil

Alibaba, one of the largest investors in blockchain technology around the globe has filed patent for a blockchain system in Brazil called Ant Unicorn.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Alibaba Files Patent For a Blockchain-Based System in Brazil

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