E-COMMERCE

CHINESE E-COMMERCE GIANT JD.COM ROLLS OUT BLOCKCHAIN-AS-A-SERVICE: China’s largest retailer, JD.com, has announced that it’s launching a blockchain platform targeting enterprise customers. The Blockchain-as-a-Service (BaaS) offering is intended to help businesses build, host, and deploy their own blockchain applications to streamline operational procedures, with use cases including tracking and tracing of financial transactions. JD.com’s BaaS platform is the newest segment of the company’s Retail-as-a-Service (RaaS) strategy, under which it’s offering its technology and infrastructure to other enterprises. The e-commerce company has also announced that the China Pacific Insurance Company (CPIC), one of the country’s biggest insurance providers, is its first enterprise partner for the new platform. The CPIC will utilize the platform to deploy a traceable process for e-invoices in the country. China’s invoice system, or “fapiao,” has come under scrutiny for lending itself to corruptpractices. Using JD.com’s BaaS system, the CPIC is aiming to change this by attaching a unique blockchain ID to each document to allow for secure, transparent, and efficient processing. The launch of JD.com’s BaaS service and CPIC’s intended use is further indication that initial blockchain experiments are now bearing fruit, as we begin to see a shift toward the deployment of the technology to tackle a myriad of problems.

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