Chinese Retail Giant JD.com Joins Blockchain in Transport Alliance

0
503

In a recent announcement, JD Logistics, the logistics arm of Chinese retail and internet giant JD.com, has confirmed its new membership to the Blockchain in Transport Alliance (BiTA). This move, which aims to share knowledge and applications of blockchain technology along with other international freight farms like UPS, FedEx, and Penske, fits nicely with BiTA’s own aim of developing and promoting standards for global freight and logistic companies engaging in their own blockchain transactions.
More and more companies are recognizing the potential of blockchain technology as a tool for the logistics industry to become more efficient and transparency, as well as promote lower costs. Startup Skuchain and NTT Data Corporation, for example, recently partnered up to develop applications for their supply chains. With this collaboration, they hope to create a system capable of integrating blockchain with the internet of things (IoT) to resolve traditional issues with the traditional supply chain model in the industry.
On the other hand, Maersk has also expressed that it is coming up with efforts with IBM to spin off its blockchain work in order to promote better collaboration among competitors. They have yet to officially announce the name of the joint venture, but they confirm that it is going to be meant to improve transparency and level the playing field among those getting on board.
JD Logistics is the first Chinese logistics enterprise to become member of BiTA. It was founded only in 2017.

Leave a Reply

avatar
  Subscribe  
Notify of