In line with a recent announcement, Jingdonggroup‘JD.com’which aleading Chinese e-commerce company,dominatingroughly30%of the business-to-consumeron-linemarket in China with 314 Mln active users,in line with the FinancialTimes.The corporatefocuses on implementationof latesttechnologies in e-commerce, delivery services, and finance.
According to the announcement revealed JD.com has collaborated with the YingWuCollegeof Computing at the New Jersey Institute of Technology [NJIT]along with theInstitute ofsoftwareat the Chinese Academy of Sciences [ISCAS]to builda blockchain technologyworkplace.
Thenew workplacewould bemeshedtowardssolving efficiency issuesand examining new applications for the technology.
Amongalternativeobjectives of theworkplace, JD.com citeslongjointanalysisefforts inelementaryagreement protocols, privacy protection, and security indecentralizedapplications [DApps]. Zhong Hua, deputy director of thesoftwareInstitute of the Chinese Academy of Sciences,declaredthat “through this partnershipwe are going to bring forthblockchain innovation and promote industrial applications of blockchain technology.”
Even last month, JD.com established theSmart City ResearchanalysisInstitute at its headquarters inNanjinggeared towards facilitatingthe eventof “smart city” construction withthe employmentofAI, big data, and blockchain technologies. The Institutecanreportedly influence “the entire East China region” and aimsto scale back industry costswhile increasing itspotency.
Earlier in August, JD.comdisclosedits new Blockchain-as-a-Service [BaaS] platform dubbed JD Blockchain Open Platform. The new productis meantto assistindustrialcustomersto make, host and implement blockchain solutionswhile nothaving to develop the technology from scratch.
Moreover, in Augustthe corporatedisclosedplans to issue asset-backed securities [ABSs] on a blockchain in conjunction with Huatai Securities and Xingye Bank.However, withinthe collaboration, this partnership wouldsupposedlyassess blockchain’s potentialto enhanceassetsecurity.