Automotive giant China Wanxiang Holding Co., Ltd has partnered with blockchain-based tech firm PlatOn to develop a “smart city” in Hangzhou, according to a report by CryptoNinjas on June 20.
According
to the report, the smart city—dubbed “Innova City”—will be built with
tech using PlatON’s blockchain infrastructure, for purposes like
interfacing with city resident ID cards as well as monitoring driving
behavior.
The report includes a statement from Chief Innovation
Officer at Wanxiang, Vincent Wang, who goes into more detail on such
applications, saying:
“Imagine a smart transit system
that tracks and rewards responsible driving behavior, or a renewable
power grid that incentivizes energy generation and trading, or even a
myriad of urban services that can be validated, built, and offered at
ease without the constraints of rigid data silos.”
As per the report, Chief Strategy Officer at PlatON Ada Xiao also commented on how PlatON’s privacy services will be used in the city, saying:
“With
our use of Multi-Party Computation (MPC) and other privacy-preserving
technologies, we can ensure the privacy of sensitive data including
digital identities of residents, smart equipment, and personal devices,
as they interact with one another on a shared ledger.”
Innova
City is projected to contain 90,000 residents when launched in 2025.
The city also plans to include an “International Research and Innovation
Park” as well as Wanxiang automotive facilities with electric vehicles.
As per the report, Wanxiang has committed $29 billion to support Innova
City’s creation.
Wanxiang appears to have deep ties with PlatON.
According to PlatON’s website, PlatON partners with Wanxiang Blockchain on a consortium blockchain for enterprise applications. Additionally, Feng Xiao is listed as co-founder of PlatON, Chairman of Wanxiang Blockchain, and founder of Wanxiang Blockchain Labs.
According to Wanxiang Blockchain’s website, Wanxiang created Wanxiang Blockchain, which contains Wanxiang Blockchain Labs as one of its six groups.
As previously reported by Cointelegraph, the Chinese government announced in April that it would fund the development of a blockchain-based smart city in Malaysia.
Project CEO KK Lim commented on the vision for the city, saying that
they intended to use blockchain tech to transform Malaysia a
“world-class tourist destination.”
