- Jun 02, 2020
JD Blockchain’s New Move in E-contracts, Commercial Secret Protection
by JD Digits
After launching the JD Blockchain Open Platform last year, JD Digits recently announced two groundbreaking applications of e-contract and commercial secret protection under the blockchain framework, which will enable enterprises to have more convenient, secure and reliable digital services.
Based on blockchain technology, JD Digits empowers businesses with transparency and verification of contract in case of forgery. Unlike traditional written contracts, e-contracts will reduce processing costs by consuming less resources and simplifying complicated procedures. A collaboration with the Internet Court of Guangzhou and Beijing, the e-contract platform shares data and statistics with these two parties in terms of justice service, which will shorten online arbitration from one month to one week. The commercial secret protection platform is also aimed at tackling problems of information leakage and intellectual property violations. These two applications will help JD establish a highly transparent and efficient blockchain ecosystem to enhance customer experience.
JD Chain provides the fundamental blockchain technology of JD Digits and helps improve the performance of five key technologies of blockchain including data ledger, consensus protocols, cryptographic algorithms, data storage and APIs. JD Chain can reach more than 10,000 transactions per second (TPS), and reduce the time required for the research and development of blockchain solutions and lower the threshold costs for using these technologies. To date, JD.com has already implemented blockchain tracing for more than 700 brands and 50,000 SKUs on its platform.
According to Xinlei Zhai, head of blockchain at JD, the mission of JD Chain is to create a secure, efficient and transparent system which will empower enterprises to leverage vast technological resources to develop individual blockchain solutions. Now JD Chain has made a great leap forward as a pioneer in the industry.
JD has widespread applications of blockchain technology in medicine tracing and pre-built APIs in businesses.
JD Digits is a leading Chinese digital technology company that connects the real economy through world-class digital solutions. First established under JD.com, China’s largest retailer, it later began operating as an independent business group in October 2013.