JD.com, China's largest e-commerce retailer and supplier, has implemented an open blockchain platform to enable customers to have their own blockchain solutions to improve transparency, efficiency and security of their operations, the company announced on its corporate blog.
The open platform JD Blockchain expands the company's Retail as a Service service and will allow customers to create smart contracts on corporate and private clouds.
The platform will enable companies to optimize the monitoring of product movements, property valuations, digital copyrights and certificates of authenticity.
Numerous Offers Available
The platform includes an application store offering software and numerous blockchain base levels developed by independent software vendors and JD.com's internal development team.
The platform will be particularly useful for companies that do not have the capacity to develop blockchain solutions on their own.
China Pacific Insurance Company (CPIC) became the first JD.com partner to use the open blockchain platform. The insurance company applies a unique ID blockchain to each billing document, improving efficiency and streamlining the accounting process, thereby strengthening the governance of electronic invoice security.
Yanhong Pan, CPIC vice president and chief financial officer, said the billing system has improved operational efficiency.
Jian Pei, who oversees big data and the intelligent supply chain at JDcom, said the open platform was initially developed for its activities to improve consumer visibility.
read: The Chinese giant of e-commerce launches the blockchain accelerator
The innovation Blockchain continues
At the beginning of this & # 39; ; year, JD.com has launched AI Catapult, a blockchain accelerator and artificial intelligence, and has developed AI applications in a Silicon Valley lab as well as in China.
AI Catapult already includes companies such as Bankorous, a Chinese fintech provider; CanYa, a cryptocurrency company based in Australia; Bluezelle, a blockchain-based database service based in Singapore; Nuggets, ID platform and blockchain-based payment platform based in London; and Devery, a blockchain-based product verification protocol.
Last year, JD.com introduced a blockchain platform to enable customers to monitor the development process of products and food products they purchase. This initiative implemented the blockchain-based track for over 11,000 inventory retention units and 400 brands.
JD.com will also work with certification authorities and software vendors to examine ways to apply blockchain for business uses, such as corporate resource planning.  Close-up image of Shutterstock.
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