by Vivian Yang
JD Technology kicked off a new round of promotion of its digital contracting services on September 17th, aiming to bring the blockchain-based technology to more SMEs and support them to go paperless in business operation.
To date, JD's digital contracting platform has assisted on managing over 4 billion contracts for more than 500,000 enterprise users. If a contract uses 10 pieces of A4 paper on average, the platform has accumulatively saved 40 billion pieces of paper so far, which equates to the save of 13 million trees and reducing more than 4 million tons of carbon dioxide emissions.
A number of China's well-known enterprises such as Xiamen ITG Group Corp. adopted the platform recently, and estimates show that the service will help them save 80% time in the work of contract processing, and lower costs of contract signing by 60%.
Enabled by digital certificates and blockchain, the service makes sure that all parties in a transaction can share the same view of a live contract, and every step and revision of the contract is recorded, creating a tamper-proof audit trail. The blockchain system can also enable hashlock on confidential contracts to ensure the safety of the original document and data privacy.
As a one-stop solution, the platform offers contract templates, digital stamps, e-signing, archiving services and more. All data is strictly scrutinized before being connected to the platform, and will continue to go through rigid reviews in every step of data generation, transfer, storage and other actions to secure data authenticity. More importantly, the complete evidence chain is synchronized with courts, notary offices and other judicial bodies, ensuring contacts' judicial validity and management efficiency.
Heavy technology aside, the platform is easy to use, as it supports multi-interfaces on computers, app, Wechat mini program and more, as well as simultaneous actions by different people.
New users of the platform will not only enjoy discounts and a service package for free, but also become a certified member of JD's "zero-carbon enterprise" program.
JD.com Inc. published this content on 26 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 September 2021 02:01:00 UTC.