JD.com launches blockchain lab with US and Chinese researchers

JD.com, one of China’s biggest online retailers, has launched a blockchain research lab to solve the restrictions that still restrict the wider usage of the technology.

Established jointly with the Ying Wu College of Computing at the New Jersey Institute of Technology and the Institute of Software at the Chinese Academy of Sciences, the research lab seeks to overcome efficiency and stability challenges that are still restricting the wider application of blockchain.

“JD.com is a pioneer in the utilization of blockchain technology, and we are dedicated to exploring its potential by investing in the growth of the blockchain ecosystem through key strategic and research partnerships,” Jian Pei, who will lead the new lab said in a press statement of the New Jersey Institute of Technology. “With more than 300 million customers, JD.com recognizes the pivotal role being played by blockchain in improving transparency in the supply chain and delivering greater peace of mind to Chinese consumers about product quality and safety.”

The Chinese online retailer launched an open platform in August which helps its enterprise customers build their own blockchain applications. JD.com also launched the Blockchain Food Safety Alliance with Walmart, IBM and Tsinghua University to improve food safety.