Chinese retail giant Jingdong Group (JD) has announced that it has entered into a partnership with two technology institutes to establish a research lab for blockchain.
The joint research lab will strive to solve efficiency and stability challenges faced by blockchain technology and at the same time, explore new applications of the technology. Some of its focus areas include fundamental consensus protocols, privacy protection, security in decentralized applications, and others.
According to a press release dated October 30, JD has collaborated with the Ying Wu College of Computing at the New Jersey Institute of Technology (NJIT) and the Institute of Software at the Chinese Academy of Sciences (ISCAS) to set up this blockchain research lab.
Dr. Jian Pei, President of JD Big Data and Smart Supply Chain, Dr. Qiang Tang, Assistant Professor in the Ying Wu College of Computing at NJIT, and Dr. Zhenfeng Zhang, Vice Chief Engineer at ISCAS will spearhead the new lab. Both Dr. Tang and Dr. Zhang are experts in blockchain and cryptography.
Expressing satisfaction over the partnership with JD, 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. Our partnership with NJIT and ISCAS will leverage our respective strengths and resources to drive the continued development of this cutting-edge technology and its wider deployment across many industries.”
He further commended JD for recognizing the significant role played by blockchain in improving transparency in the supply chain and thereby assuring Chinese consumers about product quality, reliability, and safety.
On the development, Dr. Joel S. Bloom, President of the New Jersey Institute of Technology, said, “NJIT is delighted to partner with one the leading e-commerce companies in the world and one of China’s premier research labs to work on cutting edge-blockchain and cybersecurity technologies. Working with strong international partners is a clear recipe for success in this endeavor. We look forward to working with JD and ISCAS to develop many different blockchain applications for a wide range of industries.”
Earlier in August, JD had launched the JD Blockchain Open Platform to help enterprises streamline their operational processes and provide more visibility to consumers. Enterprises can access the platform even if they are not capable of developing their own blockchain solutions. The first JD partner to use JD Blockchain Open Platform was China Pacific Insurance Company (CPIC). The company used JD’s new platform to deploy a traceable system for e-invoices, or ‘fapiao,’ the official receipts required in China for business.
Moreover, JD had partnered with Walmart, IBM, and Tsinghua University to launch the Blockchain Food Safety Alliance which focuses on improving food traceability, and safety in China.