Why JD.com is Interested in Blockchain Technology

 

China has made many advancements when it comes to online retail. JD.com is now the largest retailer in China, online and offline. Adopting the way American’s shop is a big deal, but they now use it for almost everything. Recently, JD.com, along with a few others made an announcement that they are setting up a new blockchain research lab.

The purpose for the lab is for these sites to use them for testing more applications using blockchain technology. This is important due to the increase in the use of cryptocurrency. Although it may not seem as though this is an important aspect of business for an online retailer, it could change dramatically if they intend to accept payments in cryptocurrency.

The main issue for online retailers is privacy and security. Technology continues to change the world we live in, and now it’s changing China. The leader of the lab will be Dr. Jian Pei, the President of JD.com. Working alongside him will be some of the finest experts in computers and technology.

The timing is right, as JD.com wanted to be the pioneer of using blockchain technology for online retailers. The goal is to invest as much as they can into the system, and from there they will be able to determine what the next steps are. The primary way that these leaders in technology work together is with partnerships.

This August, JD.com announced their new “JD Blockchain Platform”. Enterprise-sized customers can use this platform to build and host their own blockchain apps in a way that is more convenient, transparent, and secure. This technology allows its users to make their operational procedures more efficient and gives their customers more visibility into them. One specific way this is being used it to trace food from where it was grown to throughout the supply chain. Refer to This Article for related information.

Each individual is an expert in their own sector of technology. They each bring their unique skills and talents, and with that in mind, they are going to seek out the most innovative technology available today to make it work. It’s building the ecosystem that is the most challenging of all.

As of today, JD has more than 3 million customers. The role that blockchain technology plays in this game is going to give more peace of mind to those who prefer online shopping, and it will continue to evolve as more services are offered online in the future.

 

Learn More: https://finance.yahoo.com/quote/JD/

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