China's JD.com Reveals JD Blockchain Open Platform
Chinese retailer JD.com launched JD Blockchain Open Platform, a BaaS solution aimed at enterprise clients that want to streamline operational processes.
Chinese e-commerce giant JD.com announced on Friday that it was launching a blockchain platform aimed at enterprise clients. The new instrument will help customers develop, host, and apply their own blockchain apps for operations management. JD Blockchain Open Platform, as the platform is called, is based on several innovative technologies, allowing users to develop and adjust smart contracts on enterprise clouds, both public and private. The solution will enable enterprise clients to speed up operational processes like tracking goods and charity donations, property assessment, authenticity verification, digital copyrights, and transaction settlements, among others.
The platform is part of JD’s Retail as a Service (RaaS) strategy expansion, which stipulates that the retailer is open to sharing its innovative technologies with other companies. JD Blockchain Open Platform is even available for companies that don’t have the experience to build their own blockchain applications, which is possible thanks to its “one-click deployment” approach.
Jian Pei, the head of JD’s big data and smart supply chain unit, commented on the new solution:
“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.”
“As we continue to open our technology and infrastructure up to other companies, we are pleased to have CIPC as our first blockchain platform customer,”
The platform, which comes in the form of a Blockchain-as-a-Service (BaaS) platform, hosts an app store that offers several bottom layers, tools, and programs related to the distributed ledger technology (DLT), another name for blockchain. The tools and apps are built within the company and by Independent Software Vendors (ISVs). They pass a rigorous quality check performed by JD. With time, the retailer will expand its range of applications by adding more ISVs.
China Pacific Insurance Company (CPIC) is the first JD partner to apply the blockchain platform, which will use it to develop a tracking system for e-invoices, the official receipts indispensable for businesses in China.
Last year, JD.com announced that it would use blockchain for supply chain management in collaboration with over 30 brand owners to build a traceability system. A month later, the company partnered with IBM and Walmart to launch Blockchain Food Safety Alliance.