Chinese e-commerce venture and Alibaba’s closest rival, JD.com has launched a new accelerator program for Artificial Intelligence and blockchain start-ups in the country.
Cainiao Global, a parcel tracking platform of Alibaba Group and Tmall, a business-to-consumer unit of the country’s e-commerce giant have already started exerting blockchain technology. The initiative enables an organization to track details of the product, manufacturing, transportation, clearance, and third-party inspections and allow customers to have transparency about the products they are buying. An official at Cainiao Global said,
“The most important feature of the blockchain lies in that the uploaded data cannot be tampered with. Through the logistics data uploaded by businesses, customs and other parties, consumers can cross-certify the various information they purchase.”
Whereas, JD.com new accelerator, AI Catapult, will enable startups to work with company’s operational teams to test real-world applications of these technologies and range of possibilities they hold.
Besides the new commencement, JD.com already manages an AI research lab named SAIL JD AI Research Institute with the Stanford Artificial Intelligence Laboratory. The company band-together with IBM, Walmart and Tsinghua University to launch a “Blockchain Food Safety Alliance” to upgrade food tracking and safety in China last December.
The initial listing of companies involves the Chinese Fintech company Bankorous; Australia’s cryptocurrency CanYa; a blockchain-powered database service Bluezelle; London-based e-commerce blockchain payments and ID platforms Nuggets, and blockchain powered open-source product verification protocol Devery.
AI Catapult will also succor company’s research division to track new ways and utilize AI to improvise blockchain technology by focusing area including scalability, security, privacy, efficiency, and energy consumption.