The new tool, named JD Blockchain Open Platform will also offer smart contract functionality for “public and private enterprise clouds“. The company has also outlined several real-world uses cases for the platform.
The technology can help companies streamline operational procedures such as tracking and tracing the movement of goods and charity donations, authenticity certification, property assessment, transaction settlements, digital copyrights, and enhance productivity.
The online retailer is already offering Retail as a Service (RaaS) strategy. So, the latest BaaS offering is an extension to RaaS. With this service, JD.com hopes to take blockchain technology and related infrastructure to all business sectors.
An app store, offering a range of “blockchain bottom layers, tools and software”, will also be hosted by the BaaS platform. These tools have been either developed in-house or through independent software developers. JD.com has also stated that it will monitor and ensure “stringent quality control over the offerings on the app storeChina Pacific Insurance Company (CPIC) has turned out to be the first company to use the BaaS platform for developing a blockchain technology based electronic invoice system to trace “fapiao” a Chinese term referred to tax regulator approved invoices.
Notably, in April, telecom giant Huawei launched its Hyperledger-based BaaS platform, focused on cloud-based smart contract development and competent blockchain solutions for businesses.