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Chinese Internet Giant JD Opens Blockchain Lab

15:59 31/10/2018

A popular online retailer JD.com announced the opening of a blockchain research lab, as stated in the press release. The company intends to facilitate its online trading and delivery services with the help of cutting-edge technology.

 

China's largest e-commerce merchant, which owns 30% of the Internet market and has more than 300 million clients, entered into the partnership with two research institutes. In particular, the Beijing-based lab will deal with the security issues in decentralized applications. The researchers also plan to improve the blockchain efficiency and find new ways of applying this technology.

 

Other challenges of the lab include researching fundamental protocols of consensus and methods of privacy protection in blockchain and dApps.

 

According to Jian Pei, the head of JD Big Data, the company is pioneering blockchain and will contribute to this ecosystem through the scientific partnership. Pei added that JD, along with the scientists, will use all its strengths and resources to develop blockchain and implement it into many other industries.

 

Previously, the company founded the Smart City Research Institute in Nanjing, where the specialists are developing the concept of “smart cities” based on artificial intelligence, blockchain, and other technologies. The organization will influence the whole eastern part of China and focus on finding new solutions for transport, medicine, energy, and other infrastructures.

 

Meanwhile, the authorities in Tanzania are urging scientists to develop blockchain.

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