Chinese Retail Giant JD.com Joins Blockchain in Transport Alliance

The logistics arm of Chinese retail and internet giant JD.com has joined the Blockchain in Transport Alliance.

AccessTimeIconFeb 2, 2018 at 3:01 p.m. UTC
Updated Sep 13, 2021 at 7:31 a.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

The logistics arm of Chinese retail and internet giant JD.com has joined the Blockchain in Transport Alliance (BiTA).

The firm said in an announcement yesterday that JD Logistics joins the alliance with the aim of sharing its knowledge and applications of blockchain technology with other international freight firms, including fellow BiTA members UPS, FedEx, Penske and more.

BiTA was set up with the aim of developing and promoting blockchain standards for global freight and logistics companies.

JD Logistics, formed in 2017, is the first Chinese logistics enterprise to join the alliance, the announcement states. The company said it plans use blockchain in the optimization of supply chains, cross-border logistics and communications, as well as to help improve collaboration on the tech within the industry.

The news comes just a day after shipping giant FedEx announced its membership of BiTA.

Blockchain tech is increasingly being viewed as a potential means to bring more efficiency, transparency and lower costs to the logistics industry.

Just last month, blockchain technology startup Skuchain and NTT Data Corporation partnered to develop blockchain applications for supply chains. The partners said they will work to complete a system that integrates blockchain with the internet of things (IoT) to help solve problems with traditional supply chain methods.

Global shipping giant Maersk has also indicated it is spinning off its blockchain work with IBM in an effort to foster collaboration between its competitors. The yet-to-be-named joint venture is aimed help ensure transparency and a level playing field among participants, the firm told CoinDesk on Jan. 16.

JD.com image via Shutterstock

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.