JD.com launches Blockchain platform

Chinese e-commerce giant JD.com unveiled its new platform Blockchain-as-a-Service (BaaS).

China's retail company launches business platform based on Blockchain

Called JD Blockchain Open Platform, the new JD.com tool aims to create, host and implement Blockchains solutions without having to redevelop technology.

The functionality of intelligent contracts for "Clouds of public and private companies" have been added, according to the press release. Moreover, JD has introduced several potential use cases of its platform:

"Technology can help businesses streamline business processes such as tracking, tracing merchandise movement and charitable donations, certifying authenticity, property assessment, settlement of transactions, rights of digital author and improving productivity. "

The BaaS tool is the "latest extension" of JD's services in terms of sales strategy. It designs to facilitate the accessibility of the technology to other companies and major industries.

A first collaboration with CPIC

The company has entered into a first partnership with China Pacific Insurance Company (CPIC). The latter has used the platform to develop a system for tracing electronic invoices. Jian Pei, Head of Big Data and Smart Supply Chain At JD.com, expressed his views on this practice of JD Blockchain Open Platform by saying:

"JD Blockchain Open Platform is the culmination of the expertise and experience of the Blockchain technology that we initially developed for our own operations, to give more visibility to consumers. We continue to open our technology and infrastructure to other companies. CPIC would be our first client [...]. "

CIPC seems satisfied with the services offered by JD. Yanhong Pan, vice president and chief financial officer of CIPC has also described the company as a real innovator in its field.

"We are confident that their e-billing system [using blockchain] will help increase the efficiency of our operations ... Blockchain technology is transforming the way companies do business and we are delighted to have found a partner ideal. "

However, JD is far from being the initiator of such a Blockchain project. Other companies outperformed its BaaS offering. For example, telecommunications giant Huawei unveiled its Hyperledger-powered BaaS tool in April . Its dedicated business solution is also geared towards the development of smart contracts.

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