Jingdong released a blockchain technology and application panorama, first disclosed the 2020 strategy

On November 19th, at the site of JDiscovery at 2019, JD Peng, vice president of Jingdong Digital Technology Group, demonstrated the technology and application of the blockchain in Jingdong District and released the blockchain 2020 strategy of Jingdong District. Cao Peng introduced the Jingdong Zhiyi chain from the development history, technical capabilities and application cases.

The following is a compilation of Cao Peng's speech, compiled by Babbitt based on shorthand and live photos.

As we all know, blockchain is a key underlying technology in the digital economy era. Jingdong Digital has not only built the underlying technology platform of independent blockchain, but also applied innovative applications based on the underlying network of blockchain in the fields of supply chain traceability, digital deposit certificate and asset securitization.

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In March 2019, Jingdong was the first open source blockchain engine in domestic Internet companies. JD Chain, the underlying engine of Zhizhi Chain, is applicable to a variety of common business scenarios. It adopts a componentized design concept, and components such as consensus, account book, contract, and storage are pluggable and replaceable. Enterprises can customize the system components like building blocks according to the needs of different businesses. Open source can be trusted, Jingdong Zhiyi chain team can help enterprise customers to build their own "government chain, agency chain, enterprise chain" based on JD Chain.

Technology: three-tier architecture, enterprise-level blockchain bottom-level engine

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At present, JD Chian has broken through the throughput of 20,000 transactions per second in a single chain, and fully supports the national cryptographic algorithm to ensure security application and audit in the government and financial fields. In the core technology of cryptography, JD is the first to implement a supervised signature algorithm. It can guarantee the anonymity of the signer, and can ensure that the regulator uses the root certificate to reveal the identity of the signer and make it non-repudiation. In May 2019, JD Chain entered the distributed application booklet open source community (DAppLedger).

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On the basis of JD Chain open source, in order to better support customers to carry out enterprise alliance chain components and easily cross the blockchain technology threshold, JD.com has developed the JD BaaS platform (Zhiyi Chain Blockchain as a service platform). JD BaaS platform supports JD Chain, Fabric, Stellar multiple blockchain engines; in addition to Redhat, Ubuntu, it also supports a variety of domestic operating systems, such as dark blue, Kirin and so on.

With the JD BaaS platform, users can build a working multi-organization blockchain network in just 30 seconds. JD BaaS platform supports the “commodity traceability”, “ABS cloud network”, “digital deposit certificate” and other Jingdong internal and external blockchain environment construction projects, and has accumulated more than 1000 nodes.

Application: Five industry integration directions

In promoting industrial innovation and industrial integration, the JD blockchain team identified five blockchain and industrial application integration directions, including supply chain traceability, digital deposit, financial technology, regulatory technology and C-side innovation applications.

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In 2016, the company set up a blockchain technical team. The following year, the company officially launched the “Zhiyi Chain Anti-counterfeiting Traceability Platform”, which closely cooperated with Jingdong Retail and Jingdong Logistics Team.

Up to now, Zhizhen Chain Anti-counterfeiting and traceability platform has more than 700 online brands, more than 60,000 kinds of access goods, 6 million after-sales user inquiries, and 1.3 billion in-line data. The Jingdong Intelligent Vaccine Management System, which is cooperating with Jingdong Health Internet Hospital, has been in the Yinchuan Zhongshan South Street Health Service Center since March 2019. It has completed 28 kinds of intelligent management of the second type of vaccine for the inoculation station, with a total of 827 safe vaccinations, 7 More than 10,000 uninterrupted temperature control records have been escorted.

This year, Jingdong Zhiyi Chain and the Central Europe-Puls Supply Chain and Service Innovation Center collaborated. According to a comparative study of 438 different types of traceable product samples, the use of Zhizhi Chain anti-counterfeiting traceability platform brought the overall sales growth of 9.97. %, among which, the purchase of maternal and child goods increased by 23.4%, the repurchase rate of nutraceutical products increased by 44.6%, and the return rate of maternal and infant milk powder decreased by 31.7%, which fully proved the application value of blockchain anti-counterfeiting and traceability. Released during the year.

The blockchain is in the early stages of industrial application, but we firmly believe that this technology has enormous application potential. In the past three years, Jingdong Digital has been committed to building a “trusted supply chain” through blockchain technology. In the future, we will continue to increase resources in this area to “food safety” in the field of people's livelihood. Supply chain traceability services are provided in scenarios such as “Drug Safety”.

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In terms of improving the digitalization of bulk commodity circulation transactions and the convenience of financial services, Jingdong Digital is jointly building a block commodity chain warehouse electronic warehouse receipt system based on blockchain technology, locking the warehouse materials through AIOT and real-time electronic The warehouse receipt data is stored in the blockchain, creating a supply chain coordination service integrating warehousing services, transaction services, financing services and data services, to solve the problem of transaction security and financing risk control in the circulation of bulk commodities.

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In addition, Jingdong Digital's large-capital management division and blockchain team jointly launched the market's first blockchain ABS standardization solution in June this year. The program fully uses JD's self-developed JD BaaS platform to help assets. ABS business participating institutions such as party, plan manager, law firm, rating agency, accounting firm, and custodian bank optimize business processes and improve the efficiency of ABS issuing business.

Through the networking solution provided by the JD BaaS platform, a new ABS service node access can be completed within 2 days. Compared with the original technical solutions, it can reduce the deployment time by 85%. Each business node can save operation and maintenance costs by more than one million per year. At the same time, it can effectively improve the transparency and accountability of the system among business participating organizations. Safe use of financial related data is guaranteed.

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The tide of industrial digitalization and digital financialization is unstoppable. From trusted supply chain to digital financial innovation, Jingdong will rely on the retail service e-commerce, self-built logistics, digital financial ecosystem service capabilities, and with the Internet of Things, artificial intelligence, big data, Technology such as cloud computing helps financial technology and services trust the economy.