The released document illustrates which markets the BaaS (blockchain as a service) platform will target — public services, supply chain tracking, securities remittance, settlements, insurance and big data security.
The whitepaper also states that JD is building its platform to let the government, financial institutions, logistic industry and other enterprises to launch blockchain applications.
That’s not the first time that JD.com has made moves in the blockchain space, earlier this month it also revealed a blockchain system for tracking imported meat.
An increasingly crowded space
Also, other major Chinese technology companies are currently moving into the blockchain space.
Last year both Baidu and Tencent have launched their own BaaS platforms. However, also the major internet giants of the west have made their first strides to enter the space.
Amazon AWS has its own BaaS platform which has been developed in partnership with Kaleido, a startup. Also, Google reportedly tried to hire Vitalik Buterin and — according to The Verge — intends to launch its own BaaS platform.
A quite intriguing fact is that Facebook has it’s own blockchain team presumably working on some secret project.
Microsoft Azure has partnered with Consensys to provide Ethereum BaaS. What’s more, Microsoft also accepts the major blockchains (Ethereum, Bitcoin, and Litecoin) as a means of authentication.
An important player in the space
JD.com has started seriously working in the blockchain industry in 2016.
The Vice President of the company — Pei Jian — said that JD needs blockchain because it promises to solve many issues with clearing and settlement of transactions, movable property assessment, second-hand trading, and supply chain traceability.
While not so well known in the west, JD.com is the eighteenth most visited website worldwide and the sixth most visited domain in China. For comparison, eBay is the 39th most visited website worldwide and the eleventh in the US, which means JD is much more popular.