China’s Alibaba Group Launches First Domestic Public Welfare Blockchain Standard Technology

  • On September 5, ‘Charity Chain Technology and Application Specification’ group standard was launched by Alibaba Charity Foundation.
  • This project is the first domestic public welfare Blockchain industry standard.
  • Alibaba Economy Public Welfare Platform also launched a special action “Transparency Digital Construction” to build a public welfare project rating system.

As per local reports, “Charity Chain Technology and Application Specification” group standard, proposed and jointly drafted by the Alibaba Charity Foundation was officially released at the Alibaba 95 Charity Week offline forum held in Beijing on September 5. This is being hailed as the first domestic public welfare Blockchain industry standard. At the same time, the Alibaba economy public welfare platform also launched a special action “Transparency Digital Construction” to jointly build a public welfare project rating system, and issued an A100 initiative to the industry to work on more such philanthropic projects.

Blockchain for Public Welfare

The standard encompasses over 10 specific implementation standards across three categories: the technical requirements required for public welfare project deposit certificates, application requirements for public welfare organizations and project implementation, and information protection requirements. The initiative has been taken with a view to boost efficiency and transparency of public welfare projects.

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During the forum, Alibaba and Alipay’s public welfare platform jointly launched the “Transparency Digital Construction” special action for the Alibaba economy public welfare platform as well. One of the most important evaluation dimensions is whether the corresponding public welfare project has been realized from the donation end to the execution end 100% on the chain. The Alibaba economy dual public welfare platform will also open up all the technical capabilities needed in the entire process, so that there are no obstacles on the road to public welfare.

During the 95 Charity Week in 2019, Alibaba had launched the “Chain Charity Plan” to build a transparent charity infrastructure based on Blockchain, and make it available to the entire industry. 

Alibaba Group: The E-Commerce Giant

On a global scale, Alibaba Group has always proved its mettle in the field of Blockchain technology.  Earlier this year, China’s biggest port operator, China Merchants Port, signed a deal  with Alibaba Group, and its affiliate, Ant Financial. This project is aimed to enhance the development of a Blockchain-based platform, which will target a number of different use cases. With 1,457 applications in the first half of 2020, Alibaba also leads the global Blockchain patent application list.

On the occasion, Alibaba Group partner and chairman of the Alibaba Charity Foundation Sun Lijun also urged ore platforms and institutions to work together to create more good projects. More than 50 charity foundations have clearly responded, and will gradually go online with reference to the “Charity Chain Technology and Application Specification”.

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Piyasi Mitra
Piyasi Mitra is a journalist, features writer and copy editor who has worked with The Times of India and the ABP Group, and is currently exploring content creation in the digital space.

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