JD.com Rolls Out Blockchain Platform With Its First App

August 17, 2018
65 Views

Chinese e-commerce giant JD.com has launched a blockchain-as-a-service platform alongside its first app – one that digitally tracks corporate invoices for one of the largest publicly traded insurers in China.

According to a release on Friday, JD.com said the application moves invoice data for Pacific Insurance onto a distributed network at each step of the issuance cycle, automating the process and making it visible to all participants.

Invoices, or more commonly known as “Fapiao” in China, play an important role among businesses in the country both as a reference for bookkeeping and for taxation purposes.

The goal of the app, as explained by the e-commerce giant, is to boost issuance efficiency and to streamline the accounting process by keeping the invoice data updated on a distributed ledger.

The application comes as the first use case for JD.com’s Blockchain Open Platform which was also announced today.

The blockchain-as-a-service product – rolled out months after the firm announced its plan for the project in April – is designed to aid enterprises wanting to develop their own blockchain applications, including those for tracking supply chain information, charity donations, certificate authentication and property assessment.

JD.com has previously announced several blockchain trial programs within its own business divisions.

In March, the firm partnered with an Australian beef producer to track the supply chain information of beef import on its platform using blockchain technology. CoinDesk also reported in June that JD’s financial services arm planned to issue its asset-backed securities on a blockchain in partnership with a local bank and brokerage firm.

JD.com image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

https://www.coindesk.com/jd-com-rolls-out-blockchain-platform-with-its-first-app/

You may be interested

Coinbase Acquires Blockchain-Tracking Startup Neutrino for Undisclosed Price
Crypto News
16 views
Crypto News
16 views

Coinbase Acquires Blockchain-Tracking Startup Neutrino for Undisclosed Price

btcethereumadmin - February 19, 2019

Coinbase has acquired blockchain analytics startup Neutrino as part of a wider push to offer more diverse crypto assets across…

Bitcoin Price Crosses Key Long-Term Hurdle For First Time in 9 Months
Bitcoin
19 views
Bitcoin
19 views

Bitcoin Price Crosses Key Long-Term Hurdle For First Time in 9 Months

btcethereumadmin - February 19, 2019

View: Bitcoin has passed through the 100-day moving average for the first time in 272 days. The primary lower-high trend…

Germany Seeking Industry Feedback for National Blockchain Strategy
Crypto News
12 views
Crypto News
12 views

Germany Seeking Industry Feedback for National Blockchain Strategy

btcethereumadmin - February 19, 2019

The German government is seeking industry feedback ahead of developing the country’s blockchain strategy by the summer. A Reuters report…

Leave a Comment

Your email address will not be published.