JD To Launch BaaS For Supply Chain Data Tracking


Chinese eCommerce giant – one of Alibaba’s chief rivals – just released a white paper detailing its plans for a new blockchain-as-a-service (BaaS) platform.

According to CoinDesk, the service will provide blockchain tools for developing apps in a variety of areas, including supply chain data tracking, public services – such as government taxation and authenticating charity donations – financial settlement and securities remittance, fraud prevention in insurance and big data security.

“JD is actively building and opening up its own BaaS platform in a bid to let the government, logistic industry, financial institutions and other enterprises to launch blockchain applications,” the white paper states.

Internet giants Baidu and Tencent have also both recently launched their own BaaS platforms.

This is just the latest blockchain announcement for JD. Earlier this month, the company said it was partnering with Australia’s InterAgri to import the firm’s Angus beef products to Chinese consumers, enabling the production process to be traceable on a blockchain. In fact, JD said customers will be able to track “each piece” of beef, “right back to the farm in Australia where it was produced.”

The company also recently launched a blockchain accelerator program to help blockchain startups integrate their applications via JD’s business lines.

In addition, JD announced earlier this year that it will be investing more than 20 billion yuan – or $3.11 billion USD – in China’s northeastern “rustbelt” region. The investments would help upgrade industries and create jobs in the provinces of Liaoning, Jilin and Heilongjiang. In addition, the company plans to build a commerce settlement center in the region, which could lead to 9,000 new jobs.

And last October, the company announced a partnership with Chinese internet search company Baidu. Through the deal, users who are looking for product information on Baidu’s mobile search app will be able to access a section in which they can purchase products right from


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.