Search Inside Bitcoins

China’s New “Aerospace City” Set To Be Powered By Blockchain “Smart Brain”

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.


Join Our Telegram channel to stay up to date on breaking news coverage

CyberVein, a blockchain data firm based in Singapore, stands as one of the 12 firms that have been selected to participate within the Hainan Wenchang International Aerospace City of China.

Building The City Of Tomorrow

The construction for this city had started a month ago, with the site of its construction having previously been a satellite launch center. The city is described as the first aerospace tourism and cultural city of China, and will stand as a hub for aerospace product development, as well as support services aimed for the use in Chinese satellite and spacecraft launch missions.

This facility, spanning 12 million square meters, will be the host of the first aerospace supercomputing center of the country. It will focus primarily on the development of 40 technological areas, including satellite remote sensing, big data, as well as high precision positioning technology.

Using Blockchain To Develop Smart Cities

CyberVein will stand alongside heavyweight China-based firms, such as Kingsoft Cloud and Huawei. There, the firm will leverage its artificial intelligence, blockchain, and big data technologies in order to support the city’s Smart Brain Planning and Design Institute’s development.

Currency.Com Receives Blockchain License in Gibraltar

According to the release from CyberVein, this “Smart Brain” will be the primary project of the firm. It was described as a governance system driven by data and based on the proprietary technology of the firm. This Smart Brain will process real-time data in order to organize urban public resources. It should be noted, however, that very few details were given to the public in regards to how blockchain, in particular, will be deployed within this governance model.

China Making Hard Push For Innovation

The development of this city stands as part of the “Free Trade Port” development initiative of the Hainan province of China. This stands as a massive infrastructure program, with the goal being to transform the island province into a free-trade port of global significance by the year of 2050.

For several years, now, China has actively sought to team up with the to teams in the distributed ledger technology space. This comes as the country is trying to develop smart cities. The Chinese government had partnered up with Factom, the blockchain notarization service, back in 2016, as well.

China is making a hard push for making the most of blockchain-based technologies. Everything from its cities to its court cases, and quite soon its currency, is improved and streamlined through the use of blockchain technology.

Read more: 

Join Our Telegram channel to stay up to date on breaking news coverage

Read next