JD.com, the largest Chinese retailer, of goods, recently announced the launch of a blockchain platform, its latest DLT-related project. It is a Blockchain as a Service (BaaS) solution that will assist enterprise customers to build their own blockchain applications. The blockchain platform is called the ‘JD Blockchain Open Platform’.
The JD.com blockchain platform
The blockchain platform helps customers build their own smart contracts on public and private enterprise clouds. This should help to streamline operations, particularly in tracking the movement of goods. The blockchain platform is the latest in JD’s Retail as a Service (RaaS) strategy. There are few enterprise level blockchain solutions available right now, with Hyperledger Fabric being one of the most prominent.
The JD Blockchain Open Platform houses an application store that provides software and tools developed by independent software vendors and in-house developers. The blockchain platform has already been used by the China Pacific Insurance Company (CPIC). The platform was used to deploy a traceable system for invoices within the insurance industry. According to Yanhong Pan, Vice President of CPIC –
“Blockchain technology is transforming the way companies do business, and we are pleased to have found a great partner in JD to guide and help us along the way.”
Competition in the delivery sector
JD.com is known as a pioneer in the blockchain sector. However, the application of DLT to supply chain logistics and last mile delivery is well known. Walmart and Amazon are busy battling it out for market share, with drone delivery, floating warehouses, and many DLT-based patents. Alibaba is also looking into DLT tracking services as a massive Asian B2C retailer and a primary JD competitor.
VeChain Thor, a BaaS company, is busy working with the Chinese government to facilitate the tracking of vaccines after a recent scandal. The company supplies services so that physical goods can be actively traced on the blockchain using a combination of hardware and software.
Newer generations want their physical goods delivered as soon as possible and are prepared to pay a premium to get it. Retail companies that can provide the quickest and most efficient delivery are going to steam ahead. Last mile delivery, supply chain logistics, and item tracking are among the most exciting applications of DLT. These industries are set to explode in growth according to the latest projections, particularly last mile delivery. JD.com is currently the world leader in autonomous delivery using drones and robots.
In terms of both drone delivery and enterprise level blockchain platform solutions, JD.com seems to be pulling ahead, at the expense of other large multinational retailers such as Amazon, Walmart, and Alibaba.
Digital Nomad with an interest in Zen and Blockchain technology.
Law graduate with 3 years experience as a consultant in the capital markets industry and 4 years experience freelancing on UpWork as a Creative Writer.