- Nov 10, 2020
- Business Update
JDD Joins Proposal For Establishing Finance Blockchain Alliance
by Martin Li
JD Digits (JDD) has partnered with 25 parties to release a white paper to propose establishment of an industrial finance blockchain alliance.
The parties include industrial companies, technology companies, financial institutes, scientific research institutes and professional bodies. Among them are China Baowu Steel Group Corporation Limited, Tencent Cloud, Industrial and Commercial Bank of China, and Shanghai University of Finance and Economics.
The alliance is aimed at enhancing innovation and the application of advanced financial technology in the real economy and supporting quality development of the industrial chain and ecosystem.
The alliance will be composed of three systems covering alliance operation, blockchain infrastructure and credible digital assets.
Each member is core to the construction of the ecosystem while each can benefit from the shared blockchain system.
The purpose of the alliance is also to get more stakeholders involved to address pain points of small-and-medium sized enterprises in seeking financial services.
JDD has been actively providing solutions for industrial digitalization, including digitalized warehouse solutions for bulk commodities.