JD.com Continues to Invest in Blockchain to Transform Global Commerce

JD.com is one of the big e-commerce giants in China and is competing with Alibaba in both the online and offline retail space. JD.com has built their own cloud based blockchain-as-a-service (BaaS) platform. They started their own blockchain research lab a few years ago and collaborates with leading universities in the US and China.

JD.com introduced their blockchain initiative in 2017 and has continued to expand their blockchain ecosystem. Blockchain technology can be leveraged to trace the goods from production all they way through the whole supply chain. The purpose of utilizing blockchain in retail is to increase efficiency and transparency for both companies and the end-customers as they are seeking ways to trace the origins of products. For example, people are becoming more health conscious, so we see more grocery stores in China using blockchain technology to give customers access to the product journey with just a scan of a QR code.

In 2019 JD.com has further developed their blockchain open platform, enabling companies to leverage pre-built APIs to build their own solutions from ground-up.

“JD Chain has designed a technical architecture that spans three layers, including gateway service, consensus service and data ledger. Companies are able to access these functionalities through a simple, easy-to-use toolkit” (jdcorporateblog.com) :

“JD Chain” is the blockchain as a service platform that companies can access, using the toolkit to build their own underlying architecture by leveraging the APIs.

To date, JD.com has deployed its blockchain technology across 800 brands and over 70 000 products (SKUs). JD.com will continue to invest in blockchain technology and their BaaS platform will still be an important part of JDs further growth plan.

Source:

http://www.jdcorporateblog.com

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