Chinese auto industry big players jumping into blockchain for smart city

Chinese auto industry big players jumping into blockchain for smart city

Wianxiang, a giant Chinese car maker company which has recently aligned with PlatON, to aid the development of the essential structure of a smart city in China that Wianxiang has finance and hence has named after itself. 

It appears following the footprints of Facebook, another technology giant is attracted towards blockchain technology to magnify that power.

Wianxiang has assured to pour twenty-nine billion dollars ($29 B)in this project, nicknamed Innova City or Wianxiang City.

It will occupy over an eight square kilometer (8.3 km2) plot in Hangzhou city which is located in Zheijang province. It is nominated to be China’s biggest, most organized, blockchain based smart city. PlatON’s solution will apparently be able to trace, relocate, and protect serious data.

Apparently, Innova City will be a honey-trap for its residents’ data, which will be gathered and worked off to machine learning algorithms. PlatON will design a transport system to trace and prize responsible driving performance.

According to the Chief Innovation Officer of Wanxiang, more than ninety thousand individuals are expected to join in the coming 5 years.

Bizarrely, the CSO of PlatON CSO had not received the memorandum as he gesticulated the project’s privacy features repeatedly, and insisted that PlatON can guarantee the secrecy of complex data.

As stated by the press release, PlatON will be employed to observe the driving behaviour records to train auto-driving systems and to measure and screen electric vehicle life cycles efficiently.

A blockchain technology even makes sense in this situation and satisfies the use case of the autonomous, IoT-powered setup envisaged by ETH promoters.

There is only one problem i.e. PlatON portrays itself as a highly productive blockchain network owing to its certifiable working out pattern, which isn’t precisely a normal blockchain.

Chinese auto industry big players jumping into blockchain for smart city
Do NOT follow this link or you will be banned from the site!