The Chinese retail giant JD.com is in the latest blockchain news, after launching a research lab for blockchain that is in partnership with two technology institutes.
According to the announcement that was published on October 30th, the Jingdong Group (JD.com) is a leading Chinese eCommerce company which controls about 30% of the business-to-consumer (B2C) market in China, reportedly having a total of 314 million active users.
As the announcement reads, JD has partnered with the Ying Wu College of Computing at the New Jersey Institute of Technology (NJIT) as well as the institute of Software at the Chinese Academy of Sciences (ISCAS) in order to establish blockchain technology lab. The main aim is for the lab to be geared towards solving efficiency problems and examining new applications for the technology.
In line with the other projects and objectives of the lab, JD has cited its long-term joint research efforts in the fundamental consensus protocols, privacy protection as well as security in the decentralised applications (dApps).
Speaking about the newly launched blockchain research lab, Dr. Pei said, “ JD.com is a pioneer in the utilization of blockchain technology, and we are dedicated to exploring its potential by investing in the growth of the blockchain ecosystem through key strategic and research partnerships.”