Blockchain IoT Startup, Alibaba Cloud Partner To Develop Smart City Solutions

Announcements, Blockchain | March 7, 2018 By:

Alibaba Cloud, a subsidiary of Chinese web giant Alibaba Group, has teamed with Xiamen ZhongChuan IoT Industry Research Institute, a subsidiary of Waltonchain, to develop smart city solutions and blockchain application schemes.

Alibaba Cloud, which serves more than one million paying customers, has recently launched cloud products around artificial intelligence (AI) and big ‎data in Europe that have already been in use in other markets, including China.‎ It also plans on becoming the “smart engine” of the new smart city by providing a steady flow of computing power to construct and operate.

The partnership with ZhongChuan IoT will provide Alibaba Cloud with multiple Internet of Things application solutions. ZhongChuan IoT will also help establish an artificial intelligence hub for urban management and promote the smart city development.

The partnership will focus on the establishment of new smart cities in Xiong’an and Yuhang. They will also promote Waltonchain blockchain technology to achieve the municipal and commercial IoT coverage.

In the future, the companies said they will continue to jointly develop more advanced blockchain and IoT solutions that will bring maximum convenience to urban life and management.

The project to build smart cities is heavily supported by the Chinese government. During the presentation of the 2015 Government Work Report, the Prime Minister of China Li Keqiang delineated the following strategy: “Develop smart cities, protect and inherit the history and regional culture.”