Blockchain to Drive Wanxiang's $30 Billion Smart Cities Initiative
Auto giant Wanxiang announced today that it will use blockchain technology as part of its newly announced smart cities initiative. Revealed at the Wanxiang-sponsored Global Blockchain Summit, the company intends to invest ¥200bn ($30bn) over the next seven years into a project that will find it purchasing 83 million square feet of land in Hangzhou on which it will build a new development designed to promote technology innovations. To better support this effort, Wanxiang is also seeking to fund blockchain entrepreneurs working on efforts that may be aligned with its objectives. Wanxiang....
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The head of the Dubai government’s Smart Dubai initiative provided new details on how she believes blockchain can help drive the city’s modernization efforts in a speech at industry conference Keynote 2016 yesterday. In remarks, director general at the Smart Dubai Office, Dr Aisha Bin Bishr, spoke broadly about her organization’s plans to help make Dubai the best connected and "happiest" city in the world. Further, Bin Bishr discussed how blockchain fits into this larger strategy, while touching on her work with the Global Blockchain Council (GBC), the public-private tech....
Factom is a blockchain-based platform looking to wield the power of distributed ledger technology for purposes other than financial services. Their bread and butter revolves around record verification and auditing existing infrastructure. In the end, more transparent solutions are created, which will also cut down on overhead costs. Their recent partnership with iSoftStone will see the introduction of the blockchain verification for Chinese smart cities. The concept of creating smart cities has been a hot topic for many years now, as it proposes a mix of new technology and innovation with....
Technology is evolving at an accelerated pace, and the opportunities for improving nearly all aspects of everyday life are endless. So many different parts of society can be improved upon by embracing these technological innovations, including the way we deal with resources. This concept in the FinTech space is called smart cities, and some interesting ideas are being tossed around. The term smart cities applies to much more than having intelligent people in charge of handling everyday operations. In fact, according to some industry experts, having a handful of people in charge of cities....
Wanxiang Group, one of the largest automobile conglomerates in China, has announced its plans to invest in blockchain tech to the tune of $50 million. The company has reportedly purchased 416,000 ETH tokens on the Ethereum blockchain, confirmed by the company's managing director Chao Deng. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Blockchain Tech Development. Indeed blockchain tech has been at the front and center of the latest cryptocurrency....
The Crown Prince of Dubai announced a strategic plan today that would see all government documents secured on a blockchain by 2020. Revealed at an event hosted by the Dubai Future Foundation and the Smart Dubai Office, the final goal of the government-led initiative is to open the blockchain platform to other cities around the world. In remarks, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum explained the effort is part of a larger bid by the emirate, one of seven in the larger UAE, to set the "standard" for smart cities. He said: "The emirate is building on that....