China’s JD.com Co-Launches New Blockchain Research Lab with NJIT and ISCAS
October 21, the Chinese e-commerce giant JD Group has signed an agreement to jointly launched a blockchain union lab along with New Jersey Institute of Technology (NJIT) and Institute of Software of Chinese Academy of Sciences (ISCAS) in Beijing.
According to tech portal website Leiphone, this blockchain lab will focus on the R&D and application on 7 blockchain underlying technologies including the consensus protocol, privacy protection, access control, post quantum cryptography algorithm, smart contract, trusted computing, auditing and supervision.
This initiative can be seen as an effort jointly made by the academic community and e-commerce industry that aiming to improve the efficiency, stability and security of existing blockchain technology.
In addition, the blockchain lab is also absorbed in expanding broader application scenarios of blockchain, it will build a blockchain application ecosystem base on the trusted data networks, and apply the R&D results to the retail, supply chain, finance and other business areas of JD.com.
Actually, JD.com has started its blockchain lay out two years ago:
In 2016, JD.com has applied blockchain in supply chain field, mainly in traceability and anti-counterfeiting of goods.
On March 22, 2018, JD.com released its blockchain white paper that demonstrates the company’s blockchain application scenarios includes the supply chain, financial, government and public service and other areas.
In April 2018, JD released its Global Purchase 2018 Strategic, which included using blockchain technology in cross-border e-commerce supervision.
In August 2018, JD.com launched its own blockchain service platform named JD Blockchain Open Platform that helps enterprises to develop their blockchain applications.
Earlier this month, JD has officially launched its blockchain business department, focusing on the development of the underlying technology and applications of the blockchain.
This time, the blockchain laboratory shows JD.com is further strengthening its exploration in blockchain.
Zhang Chen, CTO of JD Group, indicated that blockchain technology is an integration of technologies including distributed data storage, peer-to-peer transmission, consensus mechanism, encryption algorithm. It has various application scenes in retail field, which is triggering and promoting a new round of technological Innovation and industrial revolution.