As part of plans to build a ‘smart city’ in China’s Xiongan New Area, the government has confirmed that a Memorandum of understanding has been signed with ConsenSys to work as its blockchain advisor.
ConsenSys is a blockchain software development company that specializes on the Ethereum blockchain and could provide the ideal expertise needed to build President Xi Jinping’s dream “smart city [and] leading blockchain innovation hub” over the next decade.
Remarkably, this would be the “first known case” where the Chinese government partners with a foreign company in its quest to dominate in the blockchain era, even though it has existing deals with homegrown companies like Qihoo 360, Ant Financial and Tencent. It has become obvious that ConsenSys has been charged with building the Xiongan “smart city” on the ever-reliable ethereum blockchain.
It is well known that even though the Chinese government does not hold a favorable disposition toward cryptocurrencies, there has never been a dull moment towards integrating its parent technology – blockchain – in the country’s ecosystem.
An advisory deal with a prominent blockchain technology dealer like ConsenSys can only bring the dream “smart city” closer to fruition.
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