Automotive large China Wanxiang Holding Co., Ltd has partnered with blockchain-based tech agency PlatOn to develop a “good metropolis” in Hangzhou, in keeping with a report by CryptoNinjas on June 20.
Based on the report, the good metropolis—dubbed “Innova Metropolis”—can be constructed with tech utilizing PlatON’s blockchain infrastructure, for functions like interfacing with metropolis resident ID playing cards in addition to monitoring driving habits.
The report features a assertion from Chief Innovation Officer at Wanxiang, Vincent Wang, who goes into extra element on such purposes, saying:
“Think about a wise transit system that tracks and rewards accountable driving habits, or a renewable energy grid that incentivizes vitality technology and buying and selling, or perhaps a myriad of city companies that may be validated, constructed, and provided comfy with out the constraints of inflexible information silos.”
As per the report, Chief Technique Officer at PlatON Ada Xiao additionally commented on how PlatON’s privacy companies can be used within the metropolis, saying:
“With our use of Multi-Celebration Computation (MPC) and different privacy-preserving applied sciences, we are able to make sure the privateness of delicate information together with digital identities of residents, good tools, and private gadgets, as they work together with each other on a shared ledger.”
Innova Metropolis is projected to include 90,000 residents when launched in 2025. Town additionally plans to incorporate an “Worldwide Analysis and Innovation Park” in addition to Wanxiang automotive amenities with electrical automobiles. As per the report, Wanxiang has dedicated $29 billion to assist Innova Metropolis’s creation.
Wanxiang seems to have deep ties with PlatON.
Based on PlatON’s website, PlatON companions with Wanxiang Blockchain on a consortium blockchain for enterprise purposes. Moreover, Feng Xiao is listed as co-founder of PlatON, Chairman of Wanxiang Blockchain, and founding father of Wanxiang Blockchain Labs.
Based on Wanxiang Blockchain’s website, Wanxiang created Wanxiang Blockchain, which comprises Wanxiang Blockchain Labs as one in every of its six teams.
As beforehand reported by Cointelegraph, the Chinese language government introduced in April that it could fund the event of a blockchain-based good metropolis in Malaysia. Venture CEO KK Lim commented on the imaginative and prescient for the town, saying that they supposed to make use of blockchain tech to rework Malaysia a “world-class vacationer vacation spot.”