2 November 2024
New Chinese eCommerce Blockchain To Boost Trust Among Retailers
A Chinese e-commerce lab based on blockchain is being set up to boost trust among the retailers, consumers, and other industry participants. The development of a laboratory will be taken under by the partnership between Chongqing Jinwowo Network Technology Co. Ltd., and China Mobile Blockchain Association Committee.
This e-commerce blockchain lab will be named as ‘Gold Chain’ and will bring more transparency in the country’s eCommerce industry. The authorities aim to bring more efficiency and security by using blockchain technology.
The combination of eCommerce and DLT is surely going to bring positive results. The announcement of this partnership will be conducted via the ‘cloud signing’ event. Firms will work together to create a unique ‘blockchain and eCommerce ecosystem.’ The lab aims to encourage more collaborations between local eCommerce players.
The ‘Gold Chain’ project will create a blockchain platform that will solve the issues related to trust between the participants and trade. The project will focus on end-user operations and cross-border ramifications will be fixed on priority. The main motive of the project is to protect the interest of the consumer by bringing in more transparency in the eCommerce space.
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