CyberVein Becomes One Of 12 Firms Participating In The Construction Of China’s Hainan Wenchang Inter
CyberVein, the Singapore-based blockchain data firm, has become one of 12 firms participating in the construction of China’s Hainan Wenchang International Aerospace City.
It has been reported that the construction commenced last month, with the site previously hosting a satellite launch center.
However, described as “China’s first aerospace cultural and tourism city,” it will be a hub for the development of aerospace products and support services intended for use in Chinese spacecraft and satellite launch missions.
The 12 million square-meter facilities will host the country’s first aerospace super-computing center and will focus on developing 40 technological areas including big data, satellite remote sensing, and high precision positioning technology.
The report said that CyberVein will work alongside major Chinese firms, including Fortune 500 companies Huawei and Kingsoft Cloud, and will leverage its blockchain, artificial intelligence (AI), and big data technologies to support the development of the city’s Smart Brain Planning and Design Institute.
CyberVein is helping build a blockchain-powered governance system for allocating public resources in China’s ‘International Aerospace City’ https://t.co/5h9sgoBGib — Cointelegraph (@Cointelegraph) September 8, 2020
According to 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.”
However, few details regarding how blockchain will be employed in developing the governance model have been made public.
The city’s development is part of a Hainan’s ‘Free Trade Port’ development initiative, a massive infrastructure program intended to transform the island into a globally significant free-trade port by 2050.
Thus, China has 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.