Huobi cryptocurrency exchange has liaised with JD Cloud to explore the applications of Blockchain technology and cloud computing in several areas including Fintech, Internet if Things (IoT) and supply chain . JD Cloud, an arm of China’s biggest e-commerce chain JD Group, released a press statement on Thursday, June 28 confirming the partnership.
According to the announcement, both companies signed an agreement to explore Blockchain applications in three broad areas. First area is The underlying technology behind blockchain and distributed ledgers including ring signatures, zero-knowledge proofs, cryptography, sharding and newer consensus algorithms. The second area involves the application of Blockchain and cloud computing in to provide solutions in logistics, financial and industrial sectors. Finally, both parties would understudy existing Blockchain projects to develop industry insight and reports.
Head of JD Cloud Product Development Department, Jang Dong, who doubles as the Group’s Vice President said that his company has an advantage in the Blockchain field due to its technical experience. The firm is focused on advancing technology in “cloud computing, big data, Internet of Things, and mobile Internet applications have also extended to e-commerce, logistics, finance, crowdfunding, and investment in many fields.”
Huobi on its part is the fourth largest cryptocurrency exchange by volume of trade. Although it is based in Singapore, Huobi is broadening it’s customer base; it recently established an operational subsidiary HBUS for the US market. It is also broadening it’s services. The latest being the Huobi Change Project designed as an open Blockchain which will be used by anyone for value exchange, crowdfunding, e.t.c.