July 23 (NBD) -- Chinese commercial firm Suning released a blockchain white paper on Friday.
The white paper listed the application scenarios of blockchain in various fields such as retail, logistics, technology, finance and cultural creativity and provided specific solutions to different scenarios.
Applications based on the blockchain technology such as credit system are very promising, Qiao Xinliang, executive vice president of Suning Technology and general manager of Suning Data Cloud Company told NBD.
Qiao also noted that Suning plans to apply the technology in customer persona, Internet of vehicles, smart logistics, intellectual property rights protection, user ecosystem and smart home appliance domain.
Known as a retail giant, Suning has launched a blockchain traceability platform that will be first used to ensure the quality of its fresh food, luxury goods, maternal and child supplies and imported products.
It is noted that the company is expected to input the information of all products in the future, so that users could trace a product through scanning code. The information of the product during the entire production and sales process, which comprises planting, picking, packaging, quarantining, selling, going through the customs and delivery, will be offered to consumers.
This is not the first deployment of the commercial company in the blockchain sector. In March 2017, Suning's research institute established a blockchain lab. Half a year later, Jiangsu Suning Bank, a private online bank backed by Suning, gained access to the blockchain-based letter of credit system.
In February this year, Suning Finance released a blockchain blacklist sharing platform to help partnered banks reduce the amount of credit fraud. So far, the platform has around 1.51 million records in 20 kinds including illegal cash-out, suspected fraud and scalpting.
Apart from Suning, two other e-commerce titans also eye development in the niche sector.
JD.com published its blockchain white paper in March 2017 and launched the anti-counterfeiting blockchain tracing platform one week before Suning's new move.
In 2016, the e-commerce company set up X and Y divisions. JD X focuses on innovating the next generation of smart logistics technologies, with a particular focus on automated fulfillment capabilities including drones, autonomous delivery vehicles and automated warehouse technologies, while JD Y focuses on creating smart supply chain solutions, and leveraging the power of AI to enhance retail efficiency.
Alibaba Group entered into collaboration last year with PricewaterhouseCoopers to set up blockchain-based cross-border food supply chain.
On June 25 of 2018, the Group's financial unit Ant Financial announced that Alipay HK will partner with Philippine's e-wallet service provider GCash to provide real-time remittance between China and Philippine based on the blockchain technology.