China’s Jinwowo To Create ‘Gold Chain’ for Resolving Trust Issues April 17, 2020 April 17, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsApril 17, 2020 by Kelly Cromley

China’s Jinwowo To Create ‘Gold Chain’ for Resolving Trust Issues

Jinwowo, a company focused on network technology, and China Mobile Blockchain Association Committee, conducted a “cloud signing” event on April 13 to collaborate on the creation of the initial “blockchain and e-commerce ecology” lab in Chongqing China, as per Yuzhong news report.

Jinwowo will create a blockchain called ‘gold chain’ to assist e-commerce companies address trust problems and vendor operational troubles.

The intention is to transform the e-commerce sector more reliable. Jinwowo’s project manager said:

“The laboratory will accelerate the application of blockchain in the field of e-commerce, including cross-border e-commerce, and establish a new business ecology on the chain with deep integration of technology and industry.”

The lab will carry out elaborate and advanced research and development (R&D) on how blockchain can benefit e-commerce.

It will also study blockchain can be applied to industrialization, ecological construction, innovation, engineering, entrepreneurship and academic exchanges.

Chinese e-commerce leader Alibaba’s e-commerce website Koala, which caters to import of goods from other countries into China, has implemented a complete product tracking system powered by blockchain.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.