Construction of the Blockchain-Powered Governance System Started for New Aerospace City of China
September 8, 2020 11:06 am
To create a blockchain-powered governance system for Chinese Hainan Wenchang International Aerospace City, a Singapore based blockchain data firm CyberVein, is partnering with the Chinese government and has become one of 12 firms participating in the construction.
This city will be a hub for the development of aerospace products and support services planned for use in Chinese spacecraft and satellite launch missions, with the site previously hosting a satellite launch centre. Named as “China’s first aerospace cultural and tourism city,” and its construction started last month.
The twelve million square-meter facilities will host the country’s first aerospace super-computing centre and will focus on developing 40 technological areas including big data, satellite remote sensing, and high precision positioning technology.
CyberVein will work alongside major Chinese firms, including Fortune 500 companies Huawei and Kingsoft Cloud, and will leverage its blockchain, artificial intelligence, and big data technologies to support the growth of the city’s Smart Brain Planning and Design Institute.
As per a CyberVein release, ‘Smart Brain’ is its primary project, a “data-driven governance system” based on the firm’s proprietary technology that will process real-time data to “organize urban public resources.” Though, a few details regarding how blockchain will be exercised in developing the governance model have been made public.
A massive infrastructure program intended to transform the island into a globally significant free-trade port by 2050 and the city’s development is part of a Hainan’s ‘Free Trade Port’ development initiative.
China had sought to team up with top distributed ledger technology teams to develop smart cities for several now, with blockchain notarization service Factom partnering with the Chinese government in 2016.
Factom is the blockchain-based record verification and auditing infrastructure provider, working with technology consulting firm iSoftStone to shape a smart city strategy, which will roll out data storage, auditing, and verification service for several regions in China, to construct new modern infrastructure to building “smart cities”. Factom’s Blockchain-based systems will be deployed in 80 smart cities in China.