Chinese Blockchain Lab to Empower E-Commerce with ‘Gold Chain”

Network technology company Jinwowo and the China Mobile Blockchain Association Committee held a "cloud signing" ceremony on April 13 to partner on the development of the first “blockchain and e-commerce ecology" laboratory in Chongqing China, according to a Yuzhong news report.

Blockchain solved the trust issue

Jinwowo will develop a blockchain called ‘gold chain’ to help e-commerce enterprises solve trust issues and supplier responsibilities Issues. The aim is to make the e-commerce industry more trustworthy. The report quoted Jinwowo’s project manager as saying:

“The laboratory will accelerate the application of blockchain in the field of e-commerce, including cross-border e-commerce, and establish a new business ecology on the chain with deep integration of technology and industry.”

Research and development will be the key 

The lab will conduct comprehensive and innovative research and development on how blockchain can integrate with e-commerce. It will also examine blockchain in relation to ecological construction, industrialization, engineering, innovation and entrepreneurship and academic exchanges.

As Cointelegraph reported previously, Chinese e-commerce giant Alibaba’s import e-commerce platform Koala adopted a full-link traceability blockchain system.