Amber

JD.com Announces the Launch of Its New Blockchain-as-a-Service Platform

| Updated
by Eugenia Kovaliova · 2 min read
JD.com Announces the Launch of Its New Blockchain-as-a-Service Platform
Photo: Daniel Cukier / Flickr

JD.com launches its innovative JD Blockchain Open Platform for enterprises and collaborates with Pacific Insurance – one of its first partners.

Chinese e-commerce company JD.com has recently announced the launch of its new platform – JD Blockchain Open Platform. Among the first partners of JD.com is Pacific Insurance, one of the largest insurance companies in China. Both news were mentioned in the company’s latest press release.

JD Blockchain Open Platform is designed to assist enterprises in developing their own blockchain applications. This allows to save both money and time, especially for the companies which don’t have the capabilities necessary for app-development. The open platform also offers an app store which gives enterprises easier access to blockchain bottom layers, tools, and software.

JD Blockchain Open Platform is a part of JD.com’s latest Retail as a Service (RaaS) push, in which the company is offering its technology to other companies outside of the JD ecosystem. The platform allows to create and adjust smart contracts on public and private enterprise clouds with ease, as well as to track and trace goods, transaction settlements and digital copyrights.

As Jian Pei, head of big data and smart supply chain at JD.com, has commented:

“JD Blockchain Open Platform is a culmination of the expertise and experience in blockchain technology that we initially developed for our own operations.”

The application designed for Pacific Insurance is set to move invoice data for the company onto a distributed network at each step of the issuance cycle, automating the process and making it visible to all participants, as invoces play a very important role as a reference for bookkeeping and for taxation purposes. Pacific Insurance aims to use the app to improve efficiency and to streamline the accounting process by keeping the invoice data updated on a distributed ledger.

Having introduced the world its innovative platform last year, JD.com has already implemented its blockchain tracing technology for more than 400 brands. In March this year, the company has collaborated with with an Australian beef producer to track the supply chain information of beef import on its platform using blockchain technology.

Despite being a rapidly developing innovator in its field, JD.com is not the first Chinese tech company to develop a Blockchain-as-a-Service (BaaS) platform. In 2017, another giant Tencent launched the development of its blockchain platform TrustSQL for enterprises, and in January this year, Baidu rolled out its open platform for creating blockchain-based applications.

Blockchain News, News
Eugenia Kovaliova

Eugenia can call herself a multy-interested person, as she is always in search of new proffessional fields to encompass. After graduating from Belarussian State University with Bachelor degree in both International Communication and Public Relations, she joined a travel startup Fresh Adventures, where she worked for 3 years creating unique itineraries through exotic countries, travelling around the world and developing the company as a partner. Currently, she works as a business analyst in the field of information technologies. She believes that IT is the future, that is why it is so important to keep up with the latest trends in this rapidly growing industry.

Related Articles
By May 21st, 2021
Blockchain NewsCryptocurrency newsMarket NewsNews UK Crypto Broker CoinBurp Secures $2M Funding for NFT Platform
By May 21st, 2021

After explosive growth in February and March, and April, the hype for NFTs, non-fungible tokens, averaging over $100 million in sales per month, continues. Thanks to the rapid growth of this nascent industry, capital institutions and business incubators continue to invest in developing the infrastructure for artists to offer their unique creations directly to their public.

EarnBet