‘Dream City’ Of China Partners With ConsenSys To Develop Blockchain Initiatives
Government officials in Xiongan New Area have announced a partnership with Ethereum development studio ConsenSys to develop blockchain initiatives for China’s “dream city.”
According to the South China Morning Post, the Xiongan government has signed a memorandum of understanding (MoU) with the U.S.-based ConsenSys to “establish Xiongan as a next-generation smart city and a leading blockchain innovation hub.”
Announced in 2017, Xiongan is a pet project of Chinese President Xi Jinping, and the central government has said that it will eventually move a number of “non-core” government agency and research facility headquarters to the region from Beijing.
The partnership with ConsenSys marks the first time that Xiongan has publicly enlisted the efforts of a foreign development studio to contribute to its blockchain efforts. However, this technological field is central to the city’s agenda.
The government has also listed blockchain as one of several cutting-edge technologies that it believes can turn Xiongan into a leading tech center.
Lubin was cited in a statementsaying: “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,”
It’s not the first time ConsenSys has consulted on a government-backed blockchain project.
ConsenSys was last year named official blockchain city advisor to the city of Dubai, whose “Smart Dubai” project aims to see the emirate move all of its documents and transactions to a blockchain platform by 2020.