Category Archives: Chinese Ministry of Industry and Information Technology

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JD.com Launches Blockchain-as-a-Service Platform

JD.com, China’s largest retailer, has launched a Blockchain-as-a-Service (BaaS) platform for use by businesses looking to develop blockchain solutions. The new platform will allow them to adopt DLT without having to build the technology from the ground up.

As detailed in the recent press release, the JD Blockchain Open Platform enables developers to build, host and implement solutions on the JD constructed blockchain platform. Customers will be able to create and adjust smart contracts on either a public or private enterprise cloud, as well as utilize the tracking and tracing of goods function from the production line to the retail destination. Blockchain tracking benefits customers by its ability to provide an authenticity certification of the goods served.

The first partner is China Pacific Insurance Company (CPIC), which has used the platform to issue official Chinese business receipts known as ”fapiao.” According to the press release, the system is able to increase security practices for all e-invoices. Yanhong Pan, vice president and CFO of CPIC, said that he is confident that the use of the open platform is streamlining the efficiency of his operations and noted that blockchain technology is forcing all companies to shift their business practices.

The JD Blockchain Open Platform is part of JD.com’s Retail as a Service (RaaS) strategy that seeks to provide sophisticated technological infrastructure to other companies and industries. By empowering businesses that may not have the means or skills necessary to develop their own blockchain, JD’s strategy may well be significant in the adoption of blockchain tech; its blockchain goods tracing platform, launched last year has already served over 400 brands.

Blockchain in China

Blockchain developments in China have been propelling the country as a leading industry figure. The Chinese Ministry of Industry and Information Technology (MIIT) has been particularly proactive in accelerating blockchain adoption by building a strong ecosystem to support a variety of industry sectors and the expansion of the technology across these fields.

On Monday, the MIIT listed a blockchain research laboratory in its list of key labs for the year. The Key Laboratory of Blockchain Technology and Data Security Industry and Information Technology is under supervision from the National Industrial Information Security Development Research Center.

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Chinese IT Ministry Seeks “Industrial” Scale Blockchain

The Chinese Ministry of Industry and Information Technology (MIT) is reportedly looking at ways it can push forward its plans for blockchain integration into the financial sector and other industries.

The MIT, established in March 2008, is the state agency responsible for regulation and development of the postal service, internet, wireless, broadcasting, communications, production of electronic and information goods, software industry and the promotion of the national knowledge economy, according to Wikipedia.

A local media report says the MIT wants to progress the use of the new technology forward as it sees it very much in its initial stage. This would involve expanding blockchain, which is principally being utilized in the financial sector, into areas such as supply chain management and the Internet of Things (IoT).

Being a local news report, the news is highly likely to represent more of a government statement than an objective view but it suggests that the government wants to accelerate blockchain in China. The reports says that MIT wants the country to “unite” to provide “a healthy and orderly development of the industry”, according to China Money Network.  It added this will need to be done on an “industrial” scale to integrate it into all areas of Chinese society.

It appears that infrastructures will need to be updated to provide this long-term plan, as the report suggests that MIT wants to involve local departments in boosting the capacity of computing power and storage.

The agency recently released a statement suggesting that the country had experienced “exponential” growth last year along with research by He Baohong of the China Academy of Information and Communications Technology (CAICT), that only 8% of blockchain projects launched are still in operation; a fact that the Chinese government would be keen to change.

On 23 July, ConsenSys and the Xiong’an government signed a memorandum of understanding (MoU) for a “dream city” project, marking the first time that Xiong’an has publicly recruited a foreign development studio to aid in its blockchain efforts.

This is one of several technological fields that the government has listed as part of a cutting-edge plan to transform Xiong’an into a leading tech hub for the country.

 

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