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JD.com Launches Business Blockchain

JD.com Launches Business Blockchain

E-commerce mammoth JD.com has launched a framework for enterprises based on blockchain. Dubbed JD Chain, this open platform is built to allow businesses to leverage pre-built application programming interfaces (APIs) to improve their own functions.

Complemented by the JD Chain Open Source Community to promote wider discussions and sharing of resources among blockchain developers and enterprise users, this launch is set to show the way forward for Chinese e-commerce in blockchain tech applications. JD.com’s head of blockchain Xinlei Zhai was quoted by Yahoo Finance to have said that the firm wanted to press the boundaries for blockchain tech to “transform global commerce”:

“Through JD Chain and the JD Chain Open Source Community, we are empowering enterprises to leverage the vast technological resources at our disposal to develop their own blockchain solutions, creating greater security, efficiency, and transparency across all of their operations.”

The official announcement claims that JD Chain can improve five key technologies of blockchain: data ledger, consensus protocols, cryptographic algorithms, data storage, and APIs. The blockchain is capable of 10,000 transactions per second, resulting in fewer delays for research and development, as well as lower threshold costs.

JD previously launched a blockchain solution called JD Medicine Opening Tracing Solution which aimed to provide more visibility into the country’s pharmaceutical supply chains.

 

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JD.com Establishes Blockchain & AI ‘Smart City’ Research Institute

Chinese e-commerce company JD.com’s finance division has launched a blockchain and artificial intelligence (AI) focused research institute to concentrate on building so-called ‘smart cities and societies.’

The Nanjing-based Smart City Research Institute will attempt to find the most cost-effective and efficient ways of building tech-savvy cities through the utilization of blockchain, AI and big data solutions. It will collaborate with industrial construction operations; focused on China’s eastern region for the foreseeable future.

The Institute will research advanced intelligent solutions in the areas of urban environment, transportation, planning, energy consumption, commerce, security, healthcare, and e-government.

Jingdong Group, known more widely as JD.com, has been keen to make its mark in the blockchain sphere. Currently, it’s investing significant amounts of capital into a range of solutions, including logistics and supply chain, as well as launching its own blockchain-as-a-service platform. The company has focused its efforts roundly on e-commerce, finance, and logistics.

Smart Cities

Last month China-based insurance company Ping An Insurance released its own whitepaper dedicated to the infrastructure of smart cities, endorsing the use of blockchain alongside big data, AI, and cloud computing. The authors of “White Paper on Smart Cities” have said that it is dedicated to helping the Chinese government realize a new model where cities act as a service to the residents.

It boasts of proposing a plan which is both comprehensive and systematic, serving the needs of the country, society and people’s livelihood. Local news outlet People’s Daily reported on the paper describing it as a ”milestone significance” since the first smart city was officially proposed in 2008.

Ping An Insurance is one of the largest of its kind, in May this year being ranked as the third most valuable global financial services company in the world.

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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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