The emergence of the blockchain has taken a variety of companies and the world by storm. A technological solution that has been around for decades, use cases are now present that can provide it with more potential and value. Furthermore, there’s more use that is present for companies and societies in general.
This piece will talk about what a blockchain is and how companies such as JD.com are integrating the technology into their operations in a slow but steady manner.
Let’s take a look at the blockchain and see how it works and why it matters for companies like Jingdong.
What Is The Blockchain and Why Does Jingdong Care About It?
A blockchain is simple it isn’t anything more complicated than series of records that have not been altered because of the technology that is present therein. The technology that is present is that of cryptography that links each block of records together. True blockchains will have each block that will be linked together with cryptographic hashes that were present in the prior block.
Information within the block will contain timestamps, transaction data, and possibly some other information as well. These forms of information and how they are linked together are the fundamentals of blockchains.
Blockchains are wanted by firms such as Jd.com and others are interested in the aspect of truth and certainty of the proper information within their specific operations. Blockchains are known to protect data, the information present within is thus immutable, as such, it can resist any form of tampering.
This resistance to tampering is why everyone, specifically innovative companies such as Jd.com is very interested in the technology. Companies such as Jingdong are still looking at ways to integrate it into many different parts of their operation. Since it is an emerging technology, they have to make sure that they integrate it in a proper manner.
The idea is to record data in a way that both parties will trust and will not need to have an outside party. As such, this elimination of trust will provide more avenues and unlock value within the larger economy.
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