Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Blockchain Enhances Authenticity Verification Services for Imported Merchandise




JD Worldwide,’s cross-border e-commerce platform, announced today at the China International Import Expo the rollout of enhanced authentication processes, named “JD Smart Check,” for imported goods.

The “JD Smart Check” initiative focuses on three key areas: expediting quality inspections for cosmetics, incorporating blockchain technology for comprehensive anti-counterfeiting solutions, and providing on-demand authenticity inspections for products shipped via direct mail. These improvements reinforce JD Worldwide’s commitment to product integrity and customer trust and strengthen its position as the trusted gateway for global brands entering the Chinese market.

JD Worldwide has implemented cutting-edge X-ray fluorescence analysis, developed in partnership with the Cosmetics Technology Center of China Inspection and Quarantine Science Institute, for rapid on-site assessment of cosmetics and personal care products at JD’s logistic centers. This patented technology empowers JD’s team to conduct swift and efficient verifications within the company’s extensive warehouse network, generating authenticity verification reports in a matter of minutes.

Further bolstering its anti-counterfeit measures, JD Worldwide utilizes serialized tracking codes, supply chain monitoring, and product inspection videos for each item. This combination of detailed identification data and blockchain-powered traceability provides consumers with unparalleled transparency.

To cater to the needs of direct mail shoppers, JD Worldwide now extends its product inspection services to include reports from authoritative centers, underscoring’s robust capabilities in vetting product authenticity across all import business models.

With major procurement centers in JapanSouth Korea, and Europe, a growing global network of buyers, and an operation that spans over 1,600 warehouses, including nearly 90 bonded, direct mail, and overseas warehouses, is unwavering in its mission to bolster sales efficiency for brand partners. Reflecting this commitment, JD Worldwide witnessed a dramatic increase in activity during the initial phase of JD’s 2023 Singles’ Day Grand Promotion, with transaction volumes for over 700 brands surging by over 100%, and a tenfold increase in product offerings from global buyers’ stores.


THXLAB and IZUTSUYA Announce Strategic Partnership



Continue Reading


OZANK Joins Forces with RevoluGROUP to Enhance Global Payment Infrastructure



Continue Reading


Financial industry bodies defend permissionless blockchains against Basel Committee’s classification




Five financial industry bodies have pushed back against the treatment of permissionless blockchains by a global banking supervision authority.

In December, the Basel Committee on Banking Supervision (BCBS) published a report on proposed amendments to bank capital requirements for digital assets, stablecoins, and tokenized assets.

The report classified all permissionless blockchains as high-risk, claiming that some risks could not be mitigated through existing solutions. BCBS was particularly concerned about banks’ lack of control over third parties who conduct most operations on these blockchains. It also warned about their privacy, finality, liquidity, and political, legal, and policy risks.

In response, five global financial industry regulators have defended permissionless blockchains. In a joint response, they stated that the industry “has all necessary expertise and robust compliance frameworks to fully identify, manage and mitigate these risks.”

The five are the International Swaps and Derivatives Association, the Global Financial Markets Association, the Institute of International Finance, the Futures Industry Association, and the Financial Services Forum.

Blockchain’s application in the financial industry is evolving, and regulators must not disincentivize banks from exploring the technology, the regulators stated. By putting up unnecessary hurdles, the BCBS would only push these institutions to the non-regulated shadow banking space, which would be riskier for them.

The regulators further noted that dozens of global banks have conducted successful pilots using permissionless blockchains. These pilots have shed more light on the technology’s application and allowed them to understand and control emergent risks.

The BCBS approach is unfair to blockchain and veers away from the regulator’s long-held “same asset, same risk” approach, they added.

“While we acknowledge that risk mitigation techniques are evolving for permissionless crypto assets…we are confident that solutions already exist in respect of specific use cases,” the five stated.

They believe deciding whether to build on permissionless blockchains should be left to the banks.

The financial sector has been a leader in blockchain adoption, with some, like JPMorgan (NASDAQ: JPM), developing their own permissioned networks, albeit unsuccessfully. However, most have relied on existing solutions to build applications spanning settlement, bond issuance, tokenization, etc.


The post Financial industry bodies defend permissionless blockchains against Basel Committee’s classification appeared first on HIPTHER Alerts.

Continue Reading

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE