China’s E-Commerce Giant JD.com Releases White Paper Outlining 5 Blockchain Use Cases
Chinese e-commerce giant JD.com unveiled a white paper on April 9 detailing its blockchain exploration in 5 areas and the next big step into the industry.
Dubbed JD Blockchain Technology Practice White Paper 2019, the white paper notes that the blockchain team of JD Digits, formerly known as JD Finance— a fintech arm of JD.com, has explored five scenarios for the adoption of blockchain technology, including supply chain traceability, digital evidence storage, trusted network, financial technology and value innovation.
The firm’s traceability and anti-counterfeiting platform which was launched last year has launched consumer goods and pharmaceutical traceability solutions, deploying blockchain technology across more than 700 brands and over 50,000 stock keeping units (SKU). Nearly 130 pieces of data have been uploaded to the blockchain-based platform so far, according to the white paper.
When it comes to digital evidence storage, the Beijing-headquartered company offers a variety of blockchain-empowered services, ranging from storing and authenticating digital evidence, automated forensics, to warning about copyright infringement. The blockchain solution has been applied to electronic contracts, e-invoices, e-certificates, e-bills, Internet-related litigation and copyright protection among others. Besides,the e-commerce juggernaut has issued asset-backed securities (ABSs) on the blockchain
According to the white paper, the technical architecture of JD blockchain consists of two parts: JD Chain and JD Blockchain-as-a-service Platform (BaaS). JD Chain, serving as the backbone of its blockchain infrastructure,is focused on fixing underlying problems. JD BaaS, an enterprise-class service platform, is devoted to helping companies to build their own applications and hosting them on public or private clouds
The company open sourced the JD Chain blockchain framework and launched the JD Chain Open Source Community to encourage collaboration last week. In the future, JD will push forward the development of the blockchain lab which was launched 5 months ago in conjunction with both US and Chinese universities.
The move comes a week after JD.com was named in the list of 197 regulated blockchain firms unveiled by China’s top-level internet censorship agency.