China has made it clear that it may not be pro-cryptocurrency but it definitely wants to be a global leader in blockchain technology. Recently, the ruling party in China released guidelines that sought to explain blockchain technology and its possible applications to its party members. Also, the Central Bank of China is conducting research into blockchain technology and how use it to streamline banking operations.
This is evidence that the country is strategically positioning itself as a global powerhouse in blockchain technology. It comes as no surprise, then, that its largest retailer, JD.com, launched a blockchain research lab.
JD.com Blockchain Research Lab
The JingDong Group (JD.com) is one of the leading e-commerce companies in China. The company recently announced the launch of a joint research lab for blockchain technology.
In fact, they partnered with two other institutions: The Institute of Software at the Chinese Academy of Sciences(ISCAS) and the YingWu College of Computing at the New Jersey Institute of Technology.
What the Research Lab will Focus on
The Research lab will focus on finding ways to resolve the bottlenecks that hinder the widespread adoption of blockchain technology. Similarly, it will also attempt to discover more applications for blockchain technology. Key areas the research lab will address are: the security of decentralized applications, privacy protection, and consensus protocols.
The following individuals will head the research lab:
Dr. Jina Pei – the current president of Big data and smart supply chain at JD. Dr.Qiang Tan – an assistant professor at the YingWu College, and Dr. Zhenfang Zhang – vice chief engineer at ISCAS. Dr. Zhang and Dr. Tang are both leaders in blockchain technology.
Dr. Pei said that working with these two pioneering leaders will help JD enhance the development of blockchain technology. He also said that he hopes the research lab will be able to identify more uses for blockchain technology. Additionally, he said that JD.com was proud to be a pioneer in the utilization of blockchain technology.
Therefore, they are committed to investing and seeking partnerships that will encourage the growth of blockchain technology. He concluded by saying that JD.com has a strategic interest in the development of this technology . The company currently serves over 300 million customers and they are seeking ways to enhance efficiency and transparency in their supply chain.
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The post China’s eCommerce Powerhouse Launches Research Lab by Saket Kumar Singh appeared first on BittPress.