China's E-commerce Giant JD.com Launches Blockchain Accelerator

CanYa, a marketplace that accepts cryptocurrencies to pay for services, will join five other blockchain technology companies in the first cohort of the AICA accelerator. ​

Author: CapitalWatch Staff   

JD.com (Nasdaq: JD), one of the largest online shopping platforms in China, has launched a new accelerator program for artificial intelligence and blockchain startups called "AI Catapult Accelerator (AICA)."

The program aims to unlock the "transformative potential of startups demonstrating cutting edge talent in the blockchain space," and will have startups work with its operational teams to "test real-world applications of their technologies at scale," the company said. 

JD.com's platform, known as the "eBay of China," had more than 266 million active users as of September, and revenue of $12.6 billion in its latest quarter.

Despite efforts by the Chinese government to cool off so-called cryptomania, JD considers the integration of blockchain technology into mainstream use as the key to a new age of a secure and cost-effective online ecosystem. "Moreover, [this] will bring not only business benefits but positive social impact as well," the statement said.

CanYa, a marketplace that accepts cryptocurrencies to pay for services, together with five other blockchain technology companies - Bluzelle, Nuggets, Republic Protocol, Devery and Bankorus - are the first cohort of the AICA accelerator. 

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Among other benefits, the companies in the AICA accelerator program will be guided through a six-month international accelerator program, and receive marketing, public relations, and international business development help from JD.com.

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