E-Commerce Giant JD.com to Issue Blockchain Asset-Backed Securities

Published at: June 13, 2018

Chinese e-commerce giant JD.com has released plans to issue asset-backed securities (ABSs) on the blockchain, local media reported June 13.

According to China’s Securities Regulatory Commission (CSRC) via its media outlet Securities Times, subsidiary JD Finance will issue the ABS in conjunction with Huatai Securities and Xingye Bank.

Together, the partners will assess blockchain’s potential to shore up asset security, according to JD Finance head Hao Yanshan.

“...The alliance chain must meet the actual needs of all participants in the asset securitization business in order to fully reflect the application value of blockchain technology,” he explained.

The move is not the first for JD in the blockchain arena, the company having announced in March it would launch a Blockchain-as-a-Service (BaaS) platform and the same month eyeing the technology to track meat supply.

Paraphrasing a Huatai executive, the CSRC meanwhile appeared buoyant about the next implementation.

“The currently established asset securitization business management system is conducive to the prevention of risks of various ABS products and thus protects the interests of investors,” it concluded.

Tags
Related Posts
Thailand Integrates Blockchain to E-Visa System for Higher Security
Thailand, one of the most-visited countries in the world, will soon apply blockchain to its Electronic Visa On Arrival (eVOA). Thailand’s new blockchain-powered eVOA system intends to speed up and protect the digital visa application process and will soon be available for five million visitors from 20 countries. eVOA operator partners with Australian travel firm for the blockchain-enabled service The upcoming eVOA feature is a joint effort of Australian travel company ShareRing and Gateway Services, an entity that owns the license to process eVOA for Thailand, according to a press release shared with Cointelegraph on Dec. 19. According to the …
Blockchain / Dec. 19, 2019
Chinese Gov’t Seeks Feedback on Data Security Standards for Blockchain, IT
China’s Ministry of Industry and Information Technology has called for feedback on draft guidance for standardizing data security in blockchain and other emerging technologies. In a document published on April 10, the ministry argued that data has become a “national basic strategic resource” and innovative element in social production. While the rise of big data and accelerating the development of China’s telecoms and internet sectors is a boon for the country’s digital economy, developers and government must understand the profound importance of tackling emerging, complex and severe security risks and challenges involved. The ministry thus calls for ramping up the …
Adoption / April 10, 2020
China’s IT Ministry Makes Blockchain, Data Security Focus of One of Its Key Labs for 2018
China’s Ministry of Industry and Information Technology (MIIT) has included a blockchain-dedicated laboratory on the list of its key labs for 2018, published August 13. According to the ministry's post, the lab will be dedicated to harnessing blockchain for the data security industry and IT, and will be overseen by the National Industrial Information Security Development Research Center. Earlier this month, MIIT proposed a number of measures to accelerate blockchain adoption, saying it would enhance interaction with various localities and departments, and would build a robust industrial ecosystem to allow for the gradual extension of blockchain across diverse fields. In …
Adoption / Aug. 13, 2018
Chinese Gov’t Partners With Tencent on New Blockchain Security Alliance
Chinese officials are partnering with tech giant Tencent on the formation of a new China Blockchain Security Alliance, according to a report from state-owned ChinaNews June 21. Aiming to promote security in the blockchain industry, the new alliance was announced at yesterday’s China Blockchain Security Forum in Beijing, hosted by the government-backed China Technology Market Association (CTMA). According to ChinaNews, the alliance will consist of Tencent’s security arm, CTMA, the China Blockchain Application Research Center, and 20 other public and private institutions, including government advisory agencies, network security firms and blockchain-related organizations. It is understood that the alliance will work …
Blockchain / June 22, 2018
Crypto pundits gather online to discuss innovation and national security
The George Mason University Antonin Scalia Law School National Security Institute hosted a webinar Wednesday, March 30, titled “Crypto and National Security: How to Validate American Innovation and Verify U.S. National Security.” Journalist Laura Shin moderated the discussion. CEO of the Crypto Council for Innovation Sheila Warren, executive director of Coin Center Jerry Brito, and global managing partner and chief strategy officer of risk compliance and monitoring firm K2 Integrity Juan Zarate were participants. After opening comments, the first of three questions posed to the panel concerned American innovation. Brito expressed hope that crypto would be allowed to develop with …
Adoption / April 1, 2022