JD Cloud announces cooperation with Huobi on blockchain-based tech

Cloud computing company JD Cloud signed a strategic cooperation agreement with digital currency trading platform Huobi on June 28. The cooperation will focus on blockchain-based technology, applications in finance and IoT, and data services, according to a report by local media (in Chinese).

Vice president of JD.com He Gang said the company decided to corporate with Huobi after a heated debate and it has no plans to work with other cryptocurrency trading platforms so far.

JD isn’t the only tech giant that is eyeing blockchain technology. Ant Financial, Alibaba’s financial affiliate, launched a blockchain-based remittances service between Hong Kong and the Philippines that will hugely reduce the remittance costs.

JD Cloud was set up in late 2014 and is the cloud computing arms of Chinese e-commerce giant JD.com. It aims to help traditional businesses adapt to the digital age. Its recent project includes cooperating with Shiyan government, a city in central China, to develop its manufacturing and tourism resources based on big data and cloud computing.

Despite the fact that the Chinese government has forbidden trading digital currencies, Singapore-based Huobi still operates an active digital currency trading in RMB. Its initial trading platform in China transformed into a blockchain consulting and research platform last October after the ban.