The JD Cloud, a subsidiary of China’s largest online retailer JD Group have signed an agreement with cryptocurrency exchange, Huobi to research on blockchain technology and cloud computing.
According to the press release posted on June, 28 the strategic cooperation agreement was signed between Huobi, the crypto trading platform and JD Cloud, cloud computing company. Therefore, the main purpose of this agreement will be focusing on blockchain technology and cloud computing.
During a signing ceremony at Beijing on Thursday, both the companies have signed a partnership to collaborate in different fields, such as;
- Research on Blockchain Technology
- Applications on Finance
- IoT (Internet of Things)
The vice-president and head of JD Cloud’s Product Development Department, Gang He said that JD Cloud’s technical experience and technical advantages in the blockchain field were main reason for the agreement. The company was first initiated on 2014, aims to help traditional businesses adoption to the digital age.
Likewise, Xianfeng Cheng, Huobi’s CTO, spoke about the partnership stating that;
“As a pioneer in the blockchain industry, Huobi has established multiple partnerships with incubators around the world, including China. Their advantages in technology, resources as well as experience will be applying to the next JD Cloud projects”.
Singapore based Huobi is the world’s 4th largest crypto exchange, having established a number of partnerships in field of blockchain globally. Recently, Huobi teamed up with Korea University of “industry-academia” cooperation in terms of blockchain development.
In early June, Huobi declared the launch of its new public blockchain called the Huobi Chain Project (HCP). Therefore, Huobi Group said the new platform will be using for “value exchange, securitization, fundraising and more”.
Further, in the same month, Huobi took a bold move stating that it is allocating Huobi Tokens of 30 million to fund in the developing its own open sourced blockchain protocol.
Leon Li Lin, founder and CEO of Huobi Group said,
“We firmly believe in a decentralized future as well as the main goal of the Huobi Chain project. It is to transform a centralized corporation to a decentralized. Our dream is for Huobi to run on the public blockchain and become a truly decentralized autonomous organization”.
Recently, Huobi revealed it new partnerships with blockchain based investment firms called NewMargin Capital and Kiwoon Securities. However, the target of fund is aiming at $93 million will be investing in Blockchain startup.