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)
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.
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.
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!
XRP is once again in the spotlight after two prominent analysts outlined bullish projections for…
Aster, a new decentralized perpetual exchange, is one of the popular names in crypto right…
Tom Lee's BitMine continues to buy more ETH even amid the sideways price action in…
Grayscale's crypto index fund is off to a solid start, according to Bloomberg analyst Eric…
Senate Democrats, led by Senator Ruben Gallego, have released a statement urging their Republican counterparts…
The broader crypto market has entered a strong correction, with Bitcoin and altcoins continuing to…