Chinese JD Website Teams Up With Two Universities To Launch Blockchain Research Lab

Chinese JD.com recently teamed up with two universities to launch the blockchain research lab. The Chinese retail giant aims to gain a strong foothold in the blockchain technology industry and the launch of this research lab is one step towards it. According to an announcement made a couple of days ago, Jingdong Group aka JD.com controls around 30 percent of the business-to-consumer Chinese online market and has 314 million active users.

The leading e-commerce company primarily focuses on implementing new technologies in the field of finance, e-commerce and delivery services. The announcement said that JD has collaborated with the Institute of Software at the Chinese Academy of Sciences (ISCAS) and the Ying Wu College of Computing at the New Jersey Institute of Technology (NJIT) to establish the blockchain lab.

The main aim behind forming the lab is to solve efficiency problems and to examine new applications for the technology. Out of the many objectives of the lab, the e-commerce company cited several long-term joint research efforts that they are going to initiate for privacy protection, fundamental consensus protocols, and security in decentralized applications.

According to the Software Institute of the Chinese Academy of Sciences deputy director, Zhong Hua, through this partnership for blockchain research lab, they will bring innovation in the field and promote blockchain technology-based industrial applications, reported Cointelegraph. The primary aim of the lab will be to solve efficiency problems and to examine new applications for the technology.

According to GlobeNewswire, the President of JD Big Data and Smart Supply Chain, Dr. Jian Pei, an assistant profession in the Ying Wu College of Computing at NJIT, Dr. Qiang Tang, and the vice chief engineer at ISCAS, Dr. Zhenfeng Zhang will lead the new research lab. Dr. Zhang and Dr. Tang are both leading experts in the field of cryptography and blockchain.

While talking about the launch of blockchain research lab, Dr. Pei said, “ 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.”

The post Chinese JD Website Teams Up With Two Universities To Launch Blockchain Research Lab appeared first on OWLT Market.

from OWLT Market https://ift.tt/2DeqUAl
via IFTTThttps://ift.tt/2OlCCL9