Cryptocurrency & Blockchain Business

JD China’s Largest Retailer Launches Blockchain Open Platform

JD.com, China’s largest retailer, is launching a new blockchain technology platform to help enterprise customers build, host and use their own blockchain applications for more secure, transparent and convenient operations management.

The platform, called JD Blockchain Open Platform, is built on multiple underlying technologies, and enables customers to create and adjust smart contracts on public and private enterprise clouds with ease. The technology can help companies streamline operational procedures such as tracking and tracing the movement of goods and charity donations, authenticity certification, property assessment, transaction settlements, digital copyrights, and enhance productivity.

The new platform is the latest expansion of JD’s Retail as a Service (RaaS) strategy, under which the e-commerce giant is opening its advanced technology and infrastructure to other companies and industries. JD Blockchain Open Platform is designed with “one-click deployment” so it is accessible to enterprises even if they don’t have the capabilities to develop their own blockchain solutions.

JD Blockchain Open Platform, a BaaS platform, houses an application store that provides multiple blockchain bottom layers, tools and software that are developed in-house and by Independent Software Vendors (ISV). JD implements stringent quality control over the offerings on the app store, enabling users to safely and conveniently customize their applications to suit their business needs. The company will continuously enrich its application offerings by introducing more ISV and creating a robust ISV community on the platform.

The first JD partner to use JD Blockchain Open Platform is China Pacific Insurance Company (CPIC), which used the platform to deploy a traceable system for e-invoices, or “fapiao,” the official receipts required in China for business. The system strengthens the security governance of e-invoices by applying unique blockchain IDs to each document, increasing efficiency and streamlining the accounting process.

“JD Blockchain Open Platform is a culmination of the expertise and experience in blockchain technology that we initially developed for our own operations, to provide more visibility to consumers,” said Jian Pei, head of big data and smart supply chain at JD.com. “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.”

 

“JD is an innovator in its field and we are confident its blockchain e-invoice system will create greater efficiency in our operations,” said Yanhong Pan, vice president and CFO of CPIC. “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.”

JD is a pioneer in the utilization of blockchain technology. Last year, the company introduced its blockchain tracing platform that enables customers to track and trace the source and development process of the products and food they purchase. To date, the company has implemented blockchain tracing for more than 400 brands and 11,000 SKUs on JD.com.

Separately, JD will work with software companies and certificate authorities home and abroad to explore the application of blockchain in their businesses, such as enterprise resource planning.

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