China’s Xiongan ‘Dream City’ Partners With ConsenSys For Blockchain Innovation

2018-7-24 09:36

In a report released by the South China Morning Post, ConsenSys has agreed to a partnership with Xiongan New Area. Their partnership should greatly help with the development of blockchain technology projects for a new effort called China’s “Dream City.”

The memorandum for the development and expansion of this city is the first step towards the progress of ConsenSys. According to the statement, the goal is to,

“establish Xiongan as a next-generation smart city and a leading blockchain innovation hub.”

This large-scale project has been in the works with President Xi Jinping since last year. As it progresses, the plan is to bring in several “non-core” agencies and research facilities from Beijing.

This new partnership with the Ethereum development studios the first time that Xiongan has trusted foreign government’s platform to help with their own blockchain technology. However, this specific project will not be extended beyond China. With the right effort, the local government wants to turn Xiongan into the leading technology center in the world, though they also are requesting help from Tencent and Ant Financial.

Joseph Lubin, who founded ConsenSys, said,

“As one of our first major projects in the People’s Republic of China, we are excited to help define the many ‘use cases’ that could benefit from the trust infrastructure enabled by Ethereum technology.”

In recent years, ConsenSys was established as a blockchain city advisors for a “Smart Dubai” project. Their role was to help their current documents migrate to the blockchain platform that Dubai was working on, with plans to finish by 2020. ConsenSys also contributed with a project concerning Saudi Arabia’s Ministry of Communications and Information Technology (MCIT). This required them to be a part of a three-day blockchain boot camp in Saudi Arabia.

To further prove how helpful and qualified that ConsenSys is for this role with Xiongan, they held a partnership with the Central Bank of South Africa. They helped create a PoC project that would let retailers use cryptocurrency through Quorum. Quorum is another Ethereum-based project, which was actually launched originally by JPMorgan.

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