JD Cloud, a subsidiary of Chinese e-commerce giant JD Group is teaming up with crypto exchange Huobi to conduct new research into blockchain technology and cloud computing.

The two companies signed a partnership contract, which was unveiled during a signing ceremony in Beijing on Thursday. According to a press release, the two companies will be working together in three main fields, including understanding blockchain technology, methods to apply blockchain technology in areas like finance, Internet of Things (IoT), and logistics and developing insight and analysis reports about current projects related to both public and consortium chain.

Gang He, JD Group vice president and the head of product development at JD Cloud, said that the partnership decision was made based on JD Cloud's experience in the blockchain field along with its "unique" advantages in technology.

JD Cloud intends to continue expanding its capabilities and innovating in order to better server enterprise clients in the blockchain sector, he said.

Similarly, Huobi CTO Xianfeng Cheng said the exchange established multiple partnerships

Xianfeng Cheng, CTO of Huobi, said Huobi, "as a pioneer in the blockchain industry," has established multiple partnerships with blockchain incubators overall the world including China. Its advantages in technology, resources, and experience will be applied to the upcoming projects with JD Cloud.

Editor's note: Statements in this article have been translated from Chinese.

JD Group's logo image via Shutterstock

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