Huobi and JD Cloud Partners to Develop Blockchain and Cloud Computing

Huobi and JD Cloud Partners to Develop Blockchain and Cloud Computing

According to a press release published on June 28, JD Cloud and digital currency exchange Huobi have signed a partnership. JD Cloud is a subsidiary of China’s largest online retailer JD Group. This partnership will help JD Cloud explore blockchain technology applications and cloud computing.

Both companies have signed a strategic cooperation agreement to explore some key blockchain application scenarios focusing on financial services, Internet of Things (IoT), and supply chain fields together.

Not only this but the two companies are looking to conduct a study on the underlying technologies of the blockchain, including ring signature, homomorphic encryption, Lightning Network, and various forms of consensus algorithm design and implementation.

Gang He, JD Group’s vice-president and head of JD Cloud’s Product Development Department, said that JD Cloud’s rich technical experience and unique technical advantages in the blockchain field were crucial for coming to an arrangement.

According to Coinmarketcap, Huobi based in Singapore is the world’s fourth-largest crypto exchange in terms of trading volume. It already has various partnerships all around the world in the field of blockchain technology.

Recently, the exchange teamed up with Korea University for industry-academia cooperation in the field of blockchain development. The cooperation seeks to bridge academic research of the innovative technology with products useful for industry.

At the beginning of June, Huobi announced the launch of its new public blockchain, the Huboi Chain Project (HCP). The new public blockchain will be open so anyone can join and participate including organizations and individuals. According to Huobi Group, the new platform will be used for value exchange, fundraising, securitization and more.

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