JD.com, China’s retail giant unveils its blockchain based platform   

JD.com, a retail giant in the e-commercial space of China has very recently launched blockchain-as-a-service platform. This revelation has taken place today on 17th August through the publication of a press release. JD has presented the new blockchain tool as a "latest expansion" of its strategy of Retail as a Service [RaaS]. JD Blockchain Open Platform, the newly released tool provides assistance to different businesses in the development of host and implementation of blockchain based solutions. The technology need not be built from the level of scratch for the completion of the entire procedure. See also: Blockchain tech "natural fit" for commodity trading, but issues remaining: BCG report The press release has informed that functionality of smart contract for “public and private enterprise clouds” will be provided with the service. As per the statement made by JD.com, "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 advantage

The announcement of this plan was first made in April, however, the launch of the blockchain-as-a-service product happened much later. It would help to track data pertaining to supply chain, property assessment, donations in charity and authentication of certificate. An app store will soon be hosted by the platform which would be offering, “blockchain bottom layers, tools and software.” These have been developed by software developers, independently or in-house. China Pacific Insurance Company happens to be the first partner for using the platform for the creation of electronically operated invoice system. This system is based on this technology to facilitate tracing of approved invoices of tax authority known as "fapiao". See also: Ripple's XRP 'isn't a competitor' since it 'isn't really a blockchain technology': Ethereum co-founder  In the domain of this technology, JD.com has not made a new entry while other corporations operating in China have prevented the BaaS offering. Previously, in April, Huawei, a prominent name in telecommunications has launched BaaS tool which is powered by Hyperledger. This tool is meant for the development of smart contract based on cloud and make the blockchain based solutions effective for businesses.

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