Blockchain Research Lab Was Launched By Chinese Retail Giant JD.com. In accordance with an announcement made on October 30, Chinese Retail Giant JD.com is furthering its stance in blockchain technology by partnering with two technology institutes, to launch a research lab.
As per the Financial Times, Jingdong Group (JD.com) is a leading Chinese e-commerce company, with 314 million active users, and controls approximately 30 percent of the business-to-consumer online market in China. The company focuses on the implementation of new technologies in e-commerce, delivery services, and finance.
JD.com has teamed up with the Ying Wu College of Computing at the New Jersey Institute of Technology (NJIT). And the Institute of Software at the Chinese Academy of Sciences (ISCAS) to set up a blockchain innovation lab.
The deputy director of the Software Institute of the Chinese Academy of Sciences, Zhong Hua, has stated that “through this partnership, we will bring about blockchain innovation and promote industrial applications of blockchain technology.” Included in the various aspirations, JD.com lists long-term joint research efforts in fundamental consensus protocols, privacy protection, and security in decentralized applications (DApps).
The Smart City Research Institute was established last month by JD.com, at its headquarters in Nanjing. The Institute has a goal to reduce industry costs and increase efficiency, and will reportedly influence “the entire East China region”. Afterward, the formation of the institute is aimed at facilitating the development of “smart city” construction with the use of artificial intelligence (AI), big data, and blockchain technologies.
Entitled: ‘JD Blockchain Open Platform’, JD.com introduced its new Blockchain-as-a-Service (BaaS) platform, which is designed to help commercial clients build, host and implement blockchain solutions without the hassle of having to develop the technology from scratch. This has unveiled in August.
The stage will have an application store that offers diverse “blockchain base layers, devices, and programming”. That has either been create in-house or by autonomous programming engineers. While they have not mention in the official statement. JD.com says it will direct and execute “stringent quality command over the contributions on the application store.”
Thus, the main collaborator to use the platform is supposedly the China Pacific Insurance Company (CPIC). It is for making a blockchain-based electronic receipt framework. To follow “fapiao”, Which is the Chinese expression for authority charge specialist affirm solicitations.
As Cointelegraph announced, real firms including WeChat mammoth ‘Tencent’, close by China’s metropolitan experts. They have as of late been swinging to blockchain-based e-receipt frameworks. Hence, with the end goal being a frictionless connection among big business, shoppers, and state charge administrations.
While JD.com is in no way, shape or form a newcomer to the blockchain space. Then other Chinese organizations have appropriated its BaaS advertising. In April, telecom goliath ‘Huawei’ uncovered its Hyperledger-controlled BaaS apparatus. In other words, headed towards keen cloud-based contract improvement and proficient blockchain answers for organizations.