The Chinese Plans to Release Blockchain-as-a-Service Platform - Coindoo

The Chinese Plans to Release Blockchain-as-a-Service Platform

Editorial Team Avatar
Mar 23, 2018
2 min reading time

The Chinese giant has submitted yesterday, March 22, 2018 an official White Paper, which includes the steps that it will follow further into the blockchain industry. Plans to Launch a BaaS Platform

The document that mainly talks about the introduction of blockchain technology in day-to-day operations refers in particular to a series of verticals on which the company is about to launch a platform based on the “blockchain-as-a-service (BaaS)” system.

The services based on the BaaS system aim to introduce new blockchain-based tools in order to develop and improve several departments of the firm. Among the new innovations, we found a secured and well-controlled system over the logistics sector, the change of the public services by offering charitable donations, the modification of the state tax regime, the development of a system that will protect against possible frauds as well as implementing a new algorithm of the security of the data recorded in the system.

JD is actively building and opening up its own BaaS platform in a bid to let the government, logistic industry, financial institutions and other enterprises to launch blockchain applications” according to the white paper.

We want to remember you that on 27th March 2018, the company has launched a blockchain accelerator. The largest Chinese retailer is supporting the development of blockchain technology as well as artificial intelligence. Their first project was entitled “Al Catapult” and had the major purpose to support and invest in new startups companies that plan to work with blockchain technology.

Through AI Catapult, the company hopes to deploy these and related technologies even more widely and in more areas that will increase efficiencies and delight customers”, according to JD’s Press Release.

However, the new initiative of the company comes as a result of the involvement of more Chinese giants, such as Baidu and Tencent, which already have launched BaaS platforms towards the end of 2017.

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
Press Releases