Waltonchain Alibaba Cloud has come into a partnership to combine and leverage the blockchain technology and Internet of Things to develop a smart city in China.
Also, read… Understanding the Concept of Walton Chain (WTC)
Waltonchain Alibaba cloud partnership
The subsidiary of Alibaba Group, Alibaba Cloud called Aliyun, has signed a partnership agreement with a subsidiary of Waltonchain, ZhongChaun. The partnership focuses on the areas of blockchain application schemes and smart city solutions.
Based in Hangzhou, Alibaba Cloud is a global cloud computing company that also covers the artificial intelligence and big data analysis and a lot more that powers online business of international clients and e-commerce ecosystem of Alibaba.
In its blog on Medium where Waltonchain makes the official announcement of its subsidiary Xiamen ZhongChuan IoT Industry Research Institute with Alibaba Cloud, it explains the concept of smart cities that is the focal point of this partnership.
Trending Stories
IoT, AI and Waltonchain blockchain for smart cities
It has been reported that the urban construction abilities of blockchain will be tested in the Xiong’an which is also expected to become the second capital of China. This place was established in April 2017 by the President of China, Xi Jinping. They believe that Xiong’an has better chances of becoming a smart city by utilizing the blockchain technology.
The partnership would rely on the resources and the expertise of Alibaba Cloud in artificial intelligence and cloud computing along with accumulated technology. Alibaba Cloud has already been a part of the developing process of the smart city in China.
The Waltonchain subsidiary ZhongChaun will basically provide the Alibaba Cloud with multiple solutions to IoT applications while helping it establish an artificial intelligence hub to promote the development of a smart city and urban management.
Focus area of partnership…
The focus areas of this partnership of waltonchain alibaba cloud would be to establish new smart cities in Xiong’an and Yuhang while promoting the Waltonchain blockchain technology for commercial and municipal IoT coverage.
Moreover, the aim is to construct and apply the smart city schemes by combining the IoT technology with the blockchain.
The partnership further mentions developing more advanced solutions of blockchain-IoT combination jointly. It has been further enunciated that there will be a positive impact on the integration of Blockchain, Internet of Things and big data in the promotion of a smart city application development.
Alibaba is one of the biggest companies in the world with over $450 billion worth. The partnership may be with Alibaba’s subsidiary Alibaba Cloud, but the latter plays a major role in the e-commerce business of Alibaba. Subsequently, a partnership with such a big brand would be a good boost to the Waltonchain price.
What are your views on this partnership? Do you think it will affect the Waltonchian price? Let us know below!
- These Whales Scoop $850 mln Worth FTX Tokens Ahead Of BlockFi Deal
- Breaking: El Salvador Buys 80 Bitcoin (BTC), Here’s How Prices Reacted
- U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam
- Canada-based Ledn Challenges FTX’s Bid of BlockFi Acquisition With Better Proposal
- Just In: Basel Committee Proposes Cap For Banks’ Bitcoin Holding
- Dogecoin (DOGE), Shiba Inu (SHIB) Show Strength, Here’s Why
- Breaking: Singapore Financial Regulator Reprimands Three Arrows Capital
- Ethereum Exchange Supply Spikes, ETH At A Risk of Correcting to $700 And Below
- Bitcoin Prices Can Reach This Level By End Of 2022; Reveals Deutsche Bank
- NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked
- Polygon Price Analysis: V-top Reversal may Direct MATIC to $0.31 Support
- ETH Price Analysis: Is Ethereum Dropping To Three Digits?
- Bitcoin Price Analysis- BTC on Losing Streak Nearing $17800; Will it Hold?
- NEAR Price Analysis: Falling Prices Eye $3 Breakdown; Should Coin Holders Worry?
- SHIB Price Analysis: Sustained Selling may Lead $SHIB to $0.0000074?
- Sandbox Price Analysis: Crashing SAND Prices Warns 25% Downfall
- Solana Price Analysis: $36 Breakdown Teases SOL Price to Revisit $26
- Chainlink Price Analysis: Wedge Pattern could Lead LINK price below to $5
- AAVE Price Analysis: Buyers Need $76.6 Breakout to Trigger Bullish Recovery
- Apecoin Price Analysis: Rising APE Price Knockout Another Barrier; is $6 Next?
