Chinese E-commerce Giant JD.com Launches Blockchain as a Service (BaaS) Platform
JD.com, a Chinese online retail behemoth, has debuted a new blockchain platform for enterprise clients. The platform is designed “to help enterprise customers build, host and use their own blockchain applications for more secure, transparent and convenient operations management.”
Details of the JD Blockchain Open Platform
In a statement published on the company’s website on Friday (August 17, 2018), JD.com announced the rollout of its legacy blockchain platform. According to the announcement, the platform is an extension of the company’s Retail as a Service (RaaS) strategy. JD.com is touted as being the largest retailer in all of China.
According to the announcement, JD Blockchain Open Platform is a BaaS platform with multiple layers for creators to develop decentralized apps. Clients can utilize the platform to build custom-made apps that fit their unique business needs.
The platform is capable of helping organizations streamline their operational processes effectively. Example processes include property assessment, transaction settlements, charity donations, and many others.
“JD Blockchain Open Platform is a culmination of the expertise and experience in blockchain technology that we initially developed for our own operations,” said Jian Pei, JD.com’s head of big data and smart supply chain.
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JD Expands its Services in the Blockchain Arena
Already, the company has announced China Pacific Insurance Company (CPIC) as its first client on the platform. CPIC plans to use the service to create a tracing framework for e-invoices, commonly called “fapiao” in China. Commenting on the partnership with CPIC, Jian Pei, said:
“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 JD blockchain protocol will help to strengthen the security of the e-invoice ecosystem as well as provide a more robust and efficient accounting process. Yanhonh Pang, the vice president and chief financial officer of CPIC, expressed delight at his company’s partnership with JD, saying:
“JD is an innovator in its field, and we are confident its blockchain e-invoice system will create greater efficiency in our operations. Blockchain technology is transforming the way companies do business, and we are pleased to have found a great partner in JD to guide and help us along the way.”
The release of this new platform follows the company’s efforts in 2017. At the time, JD, in partnership with IBM and Walmart, developed a blockchain-based food traceability platform that enabled clients to monitor the movement of food from source to store accurately. Since the time of its launch, the platform has reportedly been able to trace for over 400 brands as well as 11,000 SKUs on JD.com.
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