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.