Suning issues white paper on block chain

China Blockchain

On July 20, Suning released a white paper on its use of blockchain.

Suning will utilize block chain's advantages in P2P network, consensus algorithm, smart contract, incentive mechanism and other aspects, and apply it to user portrait, Internet of vehicles, intelligent logistics, IP copyright protection, membership community, smart home and other fields.

"Suning will apply blockchain to all scenarios within the ecosystem," said Qiao Xinliang, vice-president of Suning Technology Group.

The white paper puts forward the key technologies of the blockchain, summarizes the core characteristics of the blockchain technology, the current scenarios of the block chain application, and focuses on the specific solutions in each scenario.

It also shares the technology development strategy and architecture of Suning’s block chain platform, hoping to provide valuable reference to the industry.

As a leading company in smart retail, Suning started the plan of blockchain development in March last year, establishing a blockchain laboratory under its research institute.

Half a year later, Suning Bank was successfully connected to China’s Blockchain-based Letter of Credit System. In February this year, a blockchain blacklist sharing platform created by suning financial was officially launched, which promoted data uploading by using customer privacy storage mechanism, detailed information uploading mechanism, and points query mechanism.

At present, more than two million pieces of data have been stored on the blockchain blacklist sharing platform, covering 20 types of data such as breach of trust and overdue.

In addition, the blockchain traceability platform launched by Suning is also applied in fresh food, luxury goods, maternal and infant products, international commodities and other product categories.

In the near future, Suning’s full line of commodity information will be put on the chain, and users can scan the code for tracing, on-site inspection of product planting, picking, packaging, quarantine, sales, customs, logistics and doorstep delivery, which bridges the logistics and information flow from the supplier to the customer.


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