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China Launches Blockchain-Based Smart Cities Identification System

China Launches Blockchain-Based Smart Cities Identification System

China has launched a blockchain smart cities identification system. It aims at improving connectivity and data sharing between cities.

05 November 2019, AtoZMarketsChina continues to improve its blockchain with a city identification system based on an independently developed blockchain as part of its smart city infrastructure. Three institutes in Shijiazhuang City developed the system and it will give a unique global digital ID to smart cities across the country.

China Blockchain Identification System 

Zhang Chao is the director of the Zhongguancun Industry and Information Research Institute of Two-Dimensional Code Technology. Also, he is one of the developers of the blockchain-based identification system. He said that China developed the system. And China will independently distribute and manage it. It will be done with a unified distribution policy, distributed storage resolution, and tamper-resistant code.

China started to drive the development of smart cities in 2012 and started building them in 2016 to make at least 100 smart cities by 2020. According to Deloitte, China had about 500 smart city pilot projects, the highest in the world, last year.

The country has also adopted blockchain technology at a rapid pace. Last month, China’s President Xi Jinping publicly supported the technology. And he said that the state should take the lead in its development. China is also almost “ready” to launch its national digital currency after five years of research and development.

Read More: EURUSD gets Bearish Despite Easing US China trade tensions

The Idea Of Smart Cities In The World

Smart cities employ and integrate multiple technologies. Those are to create municipal operations more efficient, including renewable energy, communication systems, energy-efficient buildings, and passenger cars.

In July, the United Arab Emirates exposed its Smart Dubai initiative. That aims to make the city a world leader by becoming the first city powered by blockchain by 2021. Also, it seeks to improve healthcare, education, traffic management, and environmental sustainability.

A month later, a Singaporean startup, Limestone Network, announced a new smart city project. That is based on a chain of blocks for the Cambodian capital, Phnom Penh. They anticipated to completed the project in early 2022. It will integrate various partners such as passenger identification applications, financial institutions, trademark owners, and data analysis companies. Over the next five years, the startup plans to roll out similar smart city projects across Southeast Asia with the cooperation of local communities.

In September, the IOTA Foundation published a 19-page study entitled Towards Open & Transparent Cities. That is currently collaborating with Taiwan’s capital Taipei and the CityxChange project sponsored by the European Commission. it is to further explore the idea of ​​smart cities.

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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