Richard Liu’s Contribution to Technological Advancements

Richard Liu’s Contribution to Technological Advancements

Richard Liu began selling computer components inside his retail firm in Beijing in 1998 after a commercial failure in the hospitality industry and a stint selling healthcare goods. In 2004, the SARS pandemic struck the firm after it had grown to a certain level, and he decided to move his operations from physical storefronts to online. That move marked the birth of an e-commerce business, largely dominated by the sale of electronic products, which in 2016 generated profits of $37 billion. Even though the firm has been losing money since its first public offering on the NASDAQ in 2014, it has a market valuation of about $44. Liu Qiangdong has become an Internet sensation in China because of his fortune, youth, and confrontational demeanor — JD.com’s board can’t function without him.

A decade after it was founded, JD.com has grown into a global technology and artificial intelligence distribution powerhouse because of its extensive use of drones to carry goods. After revealing its first autonomous vehicle in May 2018, JD.com joined many Chinese tech giants competing to replace human drivers with self-driving systems. The company is also experimenting with robotic courier services, constructing drone delivery airports, and operating fully autonomous deliveries.

According to People’s Daily, a subsidiary of JD.com named JD Finance, which was split out in 2017, created a Research facility at its headquarters. Because of the institution’s first regional headquarters, the market forces within the area are believed to have been affected. The company is geared towards providing sophisticated technological alternatives in crucial sectors such as finance, economics, planning, and power consumption, among others.

JD.com has already deployed blockchain solutions in various areas, including supply chain management and securities. JD.com unveiled its plans for a “Blockchain-as-a-Service” (BaaS) platform. Through leveraging its services, organizations may design, host, and execute blockchain applications using JD’s breakthrough technology.

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