Chinese E-Commerce Giant JD Suspended Its Blockchain Mini-Program Shortly After Launch
China’s e-commerce giant JD.com was reported to unveil a blockchain mini-program, dubbed “Hash Manor” in a literal translation, on the China’s most popular messaging platform Wechat last week. But the program was suspended shortly after its launch, citing system upgrade as a reason.
As blockchain-based games and dapps gets hotter in China, JD is eager to tap into the market too.According to the website of Hash Manor, the goal of this mini-program is to realize value calculation and equity exchange in JD ecosystem. Besides, the program features “Jingxin Credit”, “Vitality”, “Rankings” and “Exchange Service”.
How the mini-program works is simple. “Jingxin Credit” is the original digital asset for JD ecosystem, which can be used for exchange and auction, and it is created at regular intervals. “Vitality” is equivalent to computing power, which decides the production speed and number of Jingxin Credit. Users can boost their Vitality by conducting daily missions, like inviting friends to and logging in the platform. In addition, Vitality is linked to JD Finance, JD online stores and Wechat Step Tracker. Top 50 users will be listed on the ranking of Jingxin Credit and of Vitality.
JD.com acknowledged that they are developing this blockchian app now. The company disclosed that Hash Manor is a mini program that aims to help improve customer stickiness, and use blockchain technology to record user activation rate. It is a trial to allow user data to be traceable and tamper-proof. But the user activation rate in the JD ecosystem has no transaction and circulation attributes.
The blockchain mini program has been suspended at present due to the system upgrade, but the company said it has finished collecting feedback from the beta test.
In fact, JD’s Hash Manor is acting in the similar way as some other some other Chinese tech giants’ blockchian app, like Alibaba’s Majibao and Netease’s Planet. Alibaba hastily halted a test digital marketing platform, called Majibao, in late March amid claims that its incentive system shared some similarities with ICO mechanism, a key crackdown target of the country’s regulators recently.