Why is Alibaba delving into blockchain technology?

Jul 06, 2020 Alibaba Group

In October 2017, the Alibaba DAMO Academy(Academy for discovery, adventure, momentum and outlook) was established. It is dedicated to exploring the unknown in science and technology and driving research into basic science and innovative technology with a human vision as its motivating force. The DAMO Academy has set up seven research centers around the world to recruit the world's scientific elite, covering cutting-edge sciences such as artificial intelligence, semiconductors, chips and cloud computing.

On January 2, Alibaba DAMO Academy announced its top 10 trends for 2020, which is the second time that it has predicted annual tech trends after 2019. As predicted in the article, a number of technology areas, including AI, chips, cloud computing, blockchain, and quantum computing, will have a disruptive breakthrough in 2020. AI chips and embedded CPUs have been groundbreakingly developed around the AI landscape. Through joint collaboration with industry chain partners, safe, smart, and inclusive solutions are provided in many fields such as data centers, city brains, vehicle-road collaboration, and smart homes.

Comparing the predictions in 2019, trends such as blockchain commercialization speeding up, AI chips rising, smart cities being born, 5G giving rise to new application scenarios... these predictions have already come true.

Taking blockchain as an example, last year, the DAMO Academy proposed that the commercial application of blockchain will accelerate, and this assertion has been verified in reality. In 2019, blockchain technology rises to a national strategy and gradually settles down in digital finance, digital government, smart manufacturing and other fields. Internet giants are also getting into the market to explore the true value of blockchain.