Posted 11 months ago | by Ben Armstrong
CyberVein Partners With China’s Government to Launch Blockchain-Based Smart Brain
Blockchain platform CyberVein is working with China’s government on a new project – which is a blockchain-powered governance system, dubbed “Smart Brain.” The partnership also marked the Singapore-based blockchain firm’s participation in the construction of China’s Hainan Wenchang International Aerospace City.
The projects is described as “China’s first aerospace cultural and tourism city,” aiming to become a development hub of the aerospace industry and support programs, which will support Chinese spacecraft and satellite operations.
Construction was started last month and the site recently presented a satellite launch center.
The 12-million-square-meter facility will introduce the first aerospace supercomputing center in China, and will work on the progress of 40 technical sectors including big data, satellite wireless communications and high-precision positioning and motion systems.
People Are Still Hot on China
Leading Chinese firms like Huawei (now nearly banned in the US) and Kingsoft Cloud will join project “Smart Brain.”
Along with CyberVein, these firms will be able to facilitate construction of the city's Smart Brain Planning and Design Institute through blockchain development, artificial intelligence and big data analytics implementation.
CyberVein's release presents Smart Brain's core mission as a “data-driven governance system," focused on confidential concepts and gathering technical information for the company that will manage real-time data to, "organize the public urban resources."
Pretty Light on Details
There are, however, few insights that have been made public, specifically those about how blockchain is used in the development of the governing structure. The construction is part of the Hainan "Free Trade Port," a significant infrastructure project aimed at turning the island into a worldwide free trading port by 2050.
China has been working hard to establish integrated smart cities along with the leader-defined technology teams, with blockchain notarial service Factom in 2016 marking its strategic collaboration with the Chinese Government.
There still seem to be a lot of companies jumping into the Chinese market – despite the rising tensions with the USA. The US has already put pressure on numerous Chinese companies, and as the global order falls apart, the strain on any company that deals with China is likely to become acute.
Like any relationship that is in freefall, the US/China situation is going to damage any entity that relies on having access to both parties. For comapanies in Singapore, or any other nation that is strongly allied with the West – connections with Chine are likely to become very expensive.
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