Alibaba has invested in Smartrac Technology in order to provide brands with near-field communication (NFC) authentication services. The company is also working on a new version of its smart home platform that will be available for purchase later this year. This, in turn, provides full control and visibility of each product throughout its lifetime. Alibaba has also taken a seat on Smartrac's board.
Alibaba has invested in Smartrac Technology in order to provide brands with near-field communication (NFC) authentication services. Smartrac's Smart Cosmos lets brands use NFC to build and embed a unique identity, which cannot be copied or stolen, into individual products. This, in turn, provides full control and visibility of each product throughout its lifetime. Alibaba has also taken a seat on Smartrac's board.