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.

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”

My name is Dennis Sahlström, I have been trading and investing since 2012 and have since June 2017 made between 3-6% a month. I have been watching the crypto market since the beginning of 2017 and saw the great returns a lot of people had gotten. I thought I needed to do my research! Since then I have been studying the crypto market and realised the great potential Blockchain have. Some say it’s internet 3.0 we are looking at and I am sure its here to stay. It is already changing industries and the world. Also, I am running a crypto education platform because I think people should educate themselves about the opportunities we have in front of us.


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