Last week JD.Com, China’s largest retailer announced a new blockchain research lab in conjunction with both US and Chinese universities. The colleges are 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 initiative is a multi-year effort to explore consensus protocols, privacy and security in decentralized applications. The lab aims to solve the energy efficiency and “stability” issues that JD sees as significant bottlenecks to blockchain adoption.
Dr. Jian Pei, President of JD Big Data and Smart Supply Chain said: “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,” he said.
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Image Copyright: JD.com
