JD Finance, a division of the China-based e-commerce giant Jiangdong Group (JD.com), has established a research institute for building smart cities. The Institute will operate from its headquarters in Nanjing.

JD.com is an e-commerce company, focused on the implementation of new technologies in logistics, finance, and e-commerce.  With the research institute, the company aims at facilitating the construction and growth of smart cities using artificial intelligence, blockchain and big data technologies.

With its first regional headquarters based in Nanjing, the company will mobilize the whole East China region with the aim of reducing industrial costs and boosting the productivity. According to a report released by the company, JD.com specializes in advanced intelligent solutions for planning, transportation, commerce, energy consumption, security, e-government, credit cities, and healthcare.

This will not be the first time the company is working on a project using blockchain. JD.com has been successful in applying the technology to various businesses across different industries, like supply chain and logistics, and issuing asset-backed securities in the form of tokens, backed up by the blockchain technology.

In August, the company launched their new BaaS (Blockchain-as-a-Service) platform, also known as JD Blockchain Open Platform. The platform aims to help businesses incorporate smart solutions without having to design and develop the technology required from scratch.  Businesses can use this innovative platform to build and host customized blockchain smart solutions.

Earlier last month, Ping An Insurance unveiled their white paper on smart cities, aiming to help the government develop new models of “city-as-a-service” governance. Ping An is a China-based conglomerate which has operations in banking, insurance and financial services. It is one of the largest insurance groups in the world. Promoting smart city development, the company has mastered various professional techniques and has acquired substantial knowledge on the process of developing a smart city.

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