Blockchain

The Retail Chinese Giant JD.com Launches An Open Blockchain Platform

The Retail Chinese Giant JD.com Launches An Open Blockchain Platform

JD.com is launching a new blockchain technology platform to help costumers build, host and use their blockchain applications for more secure, transparent and convenient operations management.  

JD.com is Chinas largest retailer and China’s leading technology-driven e-commerce company and a member of the Fortune Global 500. Their global R&D efforts are headquartered at our Silicon Valley R&D Center in Santa Clara, CA. The Silicon Valley R&D Center brings together leading talents in sectors such as machine learning, cloud computing, big data and AI, to develop cutting-edge innovations that enhance the retail experiences for our more than 300 million active users and our hundreds of thousands of brand partners.

JD.com now aim for innovations in blockchain and how to implement it in their business. This company is not the only one that is successfully implementing blockchain. Earlier this year, Sinochem completed the first commodity trade entirely powered by the blockchain, a story covered by Toshi Times.

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Now, JD.com has launched a new blockchain technology platform that is called JD blockchain open platform. It is built on multiple underlying technologies and enables customers to create and adjust smart contracts on public and private enterprise clouds. It can help companies to streamline operational procedures such as tracking and tracing the movement of goods but also to settle transactions, digital copyrights and much more.

The platform is designed with “one-click deployment” so it is accessible to companies even if they do not have the capabilities to develop their blockchain solutions. The first partner to use the service is the China Pacific Insurance Company (CPIC), which uses the platform to deploy a traceable system for e-invoices. The system strengthens the security governance of e-invoices by applying unique blockchain IDs to each document, increasing efficiency and streamlining the accounting process.

“JD Blockchain Open Platform is a culmination of the expertise and experience in blockchain technology that we initially developed for our operations, to provide more visibility to consumers,” said Jian Pei, head of big data and smart supply chain at JD.com. “As we continue to open our technology and infrastructure up to other companies, we are pleased to have CIPC as our first blockchain platform customer.”

“JD is an innovator in its field, and we are confident its blockchain e-invoice system will create greater efficiency in our operations,” said Yanhong Pan, vice president and CFO of CPIC. “Blockchain technology is transforming the way companies do business, and we are pleased to have found a great partner in JD to guide and help us along the way.”

JD.com is a giant when it comes to innovation and a pioneer when it comes to the blockchain. Last year, the company introduced its blockchain tracing platform that enables customers to track and trace the source and development process of the products and food they purchase. To date, the company has implemented blockchain tracing for more than 400 brands and 11,000 SKUs on JD.com

Image Source: “Flickr”

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Dennis Sahlström has been trading and investing since 2012 and has for the last two years been consistently profitable. He has been in the crypto- and blockchain space since the middle of 2017 and realized its potential for our world, not least how it is transforming the society we live in. He has now created an education platform, together with the wealth coach Marcus the Maria. They teach regular people how to invest and trade in the cryptocurrency market with proven strategies. If you want to learn more and feel like its time to get into this new asset class, download our free book and register to the next live training to get your future in cryptocurrencies started.