In line with a recent announcement, Jingdong group ‘JD.com’ which a leading Chinese e-commerce company, dominating roughly 30% of the business-to-consumer on-line market in China with 314 Mln active users, in line with the Financial Times. The corporate focuses on implementation of latest technologies in e-commerce, delivery services, and finance.
According to the announcement revealed JD.com has collaborated with the Ying Wu College of Computing at the New Jersey Institute of Technology [NJIT] along with the Institute of software at the Chinese Academy of Sciences [ISCAS] to build a blockchain technology workplace.
The new workplace would be meshed towards solving efficiency issues and examining new applications for the technology.
Among alternative objectives of the workplace, JD.com cites long joint analysis efforts in elementary agreement protocols, privacy protection, and security in decentralized applications [DApps]. Zhong Hua, deputy director of the software Institute of the Chinese Academy of Sciences, declared that “through this partnership we are going to bring forth blockchain innovation and promote industrial applications of blockchain technology.”
Even last month, JD.com established the Smart City Research analysis Institute at its headquarters in Nanjing geared towards facilitating the event of “smart city” construction with the employment of AI, big data, and blockchain technologies. The Institute can reportedly influence “the entire East China region” and aims to scale back industry costs while increasing its potency.
Earlier in August, JD.com disclosed its new Blockchain-as-a-Service [BaaS] platform dubbed JD Blockchain Open Platform. The new product is meant to assist industrial customers to make, host and implement blockchain solutions while not having to develop the technology from scratch.
Moreover, in August the corporate disclosed plans to issue asset-backed securities [ABSs] on a blockchain in conjunction with Huatai Securities and Xingye Bank. However, within the collaboration, this partnership would supposedly assess blockchain’s potential to enhance asset security.