Invoice Tracking Blockchain Platform Release By JD.com

By Dmitriy

BTC Wires: Having made news about partnering with an Australian beef producer only in March, this year, JD is back with a bang. While this aforementioned project was a very innovative and unique concept of implementing blockchain technology towards beef imports, this time JD is looking forward to e-commerce as their new milestone.

News about Chinese e-commerce stalwarts- JD.com’s blockchain-as-a-service platform has stirred up the ecosystem quite a bit. It’s parallel release with its first app that works towards digitally tracking corporate invoices, has made a significant buzz in the market related to the company’s future prospects of the company with regard stop digital assets.

A press release that went viral Friday dubbed how the application transfers data for the famous Pacific Insurance onto a decentralised network throughput the cycle of issuance, which in turn automates the entire process and gives each participant access to the procedure. Because China is strict about its invoice policy owing to the role they play as references for bookkeeping and taxation purposes.

JD explained how the app’s purpose is to burgeon the efficiency of issuance and organising the procedures involved in accounting through the updation of invoice data on a distributed ledger. It’s interested to not how JD has strategically released their new app, thus accounting for the first use case of its Blockchain Open Platform that they released simultaneously.

Although the release of the blockchain-as-a-product came to light in April itself, but the uniqueness of it is highlighted in how the project targets those enterprises that are looking to come up with they own blockchain, ranging from charity donations to property assessments, to tracking supply chains and certificate authentication.