Huawei Technologies will be working with the Guangdong Province in South China to explore fintech such as blockchain and big data, among other things.
The group will be building an “industry demonstration zone, in an attempt to transform the city into a model chipsets production base,” a report notes.
This will be established in the province’s Shenzhen Nanshan district, and it will look into the different fintech solutions that can improve industries like banking, insurance, and more.
Huawei, of course, is deep into the blockchain. InsideBitcoins has recently reported on the company launching a global blockchain service, for example. Also, the CEO of Huawei came out and said recently that China can come out with a better cryptocurrency than Facebook can, referring to the social media platform’s controversial “Libra” cryptocurrency.