JD.com, China’s Largest Retailer, Launches Open Blockchain Platform

The new platform is designed to provide easy access to blockchain technology to companies without in-house capabilities.

In an August 17 corporate blog post, China’s largest retailer and e-commerce provider, JD.com, announced the launch of a new blockchain platform to help enterprise customers utilize blockchain technology in their businesses.

Called JD Blockchain Open Platform, it will reportedly allow customers to create and alter EDCCs (or smart contracts) on both public and private enterprise clouds.

The company’s blog post explains the multipurpose potential of its blockchain platform:

“The technology can help companies streamline operational procedures such as tracking and tracing the movement of goods and charity donations, authenticity certification, property assessment, transaction settlements, digital copyrights, and enhance productivity.”
The blockchain-powered platform should provide customers with “one-click deployment” to allow companies without the capacity to develop their own blockchain system easy access to the technology.

TIP

In addition, JD Blockchain Open Platform is said to offer customers “multiple blockchain bottom layers, tools and software that are developed in-house and by Independent Software Vendors (ISV).” These applications are intended to allow easy customization to suit the needs of a given business.

“JD Blockchain Open Platform is a culmination of the expertise and experience in blockchain technology that we initially developed for our own operations, to provide more visibility to consumers,” said Jian Pei, head of big data and smart supply chain at JD.com.

China Pacific Insurance Company (CPIC) is reportedly the first customer to use the JD Blockchain Open Platform. The insurance company apparently used the system to deploy a traceable system for official invoices issued by the Chinese Tax Bureau to businesses in order to collect tax payments.


IZX

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Source
Author: Nathan Graham
Image Credit 

DD Telegram

 

 

Facebook Comments