JD.Com Inc (ADR) (NASDAQ:JD) is one of the major e-commerce platforms in the republic of China and one notable aspect about it is the fact that it has been at the frontline when it comes to taking advantage of the various technological advancements that pop up from time to time around the globe. It is more focused on improving the customers’ experience because it understands it is the easiest strategy to thrive in the global market.
The most recent step that it has taken is the unveiling of an accelerator program which according to it will be moving quite along way helping foster the development of blockchain-focused startups.
Strategizing in business according to analysts is crucial and that is more so considering the changing times which are associated shifting business dynamics. The announcement was made on Tuesday and was dubbed ‘AI Catapult.’ As the name suggest, it is a program targeting incubating the various young blockchain firms, a move that has been praised in a significant way by quite a large number of the market observers.
Fundamentally, it is all about giving them the support they need in order to be able to take a notch higher their applications and of course that will be through the integration with a number of JD.com’s businesses situated in China and in that particular note it is worth mentioning logistics and e-commerce.
A person familiar with the most recent developments opined, “JD.com said it has already signed up at least four blockchain startups – from China, Australia, Singapore and the U.K. so far – to kick off the initiative. The firms cover a wide range of services from database to payment and identity platforms.”
It goes without saying that this particular initiative pulls along at a moment when the business guru is seeking out the adoption of blockchain within its wide range of operations.
A report came out recently pointing out to the fact that the company was planning to strike a business alliance with Walmart Inc (NYSE:WMT).The target was for the two to join hands in an effort to pilot the use of blockchain technology in the tracking of food safety and of course this is with special focus on the supply chain.