JD Finance, the financial division of China's e-commerce giant JD.com, has set up a research institute dedicated to blockchain technology and artificial intelligence (AI) working in the construction of so-called smart cities and companies. " or Smart City.
A long-term initiative
It's been a long time since JD.com consider the implementation of new technologies in e-commerce, finance and logistics. With this new research center, the company intends to contribute to the development of a "Smart City" supported by Blockchain and Artificial Intelligence (AI) technologies.
The program started in Nanjing at JD Finance headquarters. "Advanced intelligent solutions in the areas of urban environment, transportation, planning, energy consumption, trade, security, health care and e-government" will be addressed .
The aim of the institute is to find the most cost-effective way to expand rapidly its field of action throughout Eastern China.
JD.com is experienced in Blockchain technology
This is not the first time that JD.com is embarking on a similar project (based on the Blockchain). The company has deployed technology in a number of services, from supply chain to logistics to asset-backed securities.
Earlier in August, she unveiled her BaaS platform (Blockchain-as-aService) called JD Blockchain Open Platform to allow companies to create, host or even implement their own Blockchain solution without having to develop the technology from scratch.
This JD.com initiative comes almost a month after Ping an Insurance (a Chinese conglomerate specializing in financial services, banking and insurance, and one of the largest insurance groups in the world) published a book white on smart cities. The document also sets out detailed plans that would (without a doubt) help the government create a new, comprehensive model of "city-as-a-service" governance.
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