Chinese online fashion, electronics and homewares retailer LightInTheBox has become the latest company to explore the use of blockchain technology as a way of operating more efficiently, with the opening of a new research lab.
The New York-listed firm, which delivers products directly to consumers globally, has opened a blockchain technology research lab in Beijing to explore and develop blockchain technology platforms and their application on the cross-border e-commerce industry.
The research lab will be composed of both existing in-house talent and new hires with strong backgrounds in blockchain technology, the company says. It has begun a global search to recruit a head to lead the blockchain technology research lab. The job advertisement asks for someone with a broad range of knowledge and hands-on experience in blockchain relevant software technology, including decentralised database and computing, encryption, virtual machine, compilers, and AI based anti-fraud technologies.
“Blockchain technology can potentially play a crucial role in cross-border e-commerce transactions and in many other related sectors,” says Alan Guo, chairman and CEO of LightInTheBox. “As a leading cross-border e-commerce company, we are opening a blockchain research lab to build a solid base for the exploration of both blockchain platform technology and its application in cross-border e-commerce and other relevant sectors. We welcome global blockchain technology talent interested in joining our research lab to apply.”
Blockchain technology has the potential to transform the way information and transactions are captured, owned, stored and shared among companies and whole ecosystems – and thus radically increase transparency across the supply chain. It is being increasingly adopted by companies in the textile and apparel industry.
This week, global shipping giant AP Moller-Maersk and technology firm IBM announced they have joined forces to establish a blockchain-based shipping and supply chain company they say will offer more transparency and simplicity in the trading of goods.
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