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Strategic Partnership Inked Between Waltonchain Subsidiary and Alibaba Cloud

Strategic Partnership Inked Between Waltonchain Subsidiary and Alibaba Cloud

With the enormous growth in population numbers the capacity of cities across the globe is being severely tested. Per the World Bank, more than 60% of the population in the world will reside in cities by the year 2030. And as the urban population grows there will be an enormous strain placed on limited services and resources including water, transportation, housing, healthcare and energy. One solution that has been proposed to counter this is the building of smart cities.

During a presentation in 2015 the Chinese premier Li Keqiang urged that when smart cities were being developed efforts had to be made to ensure that the regional culture and history were preserved. This was an indication that the construction of smart cities had been embraced by the central government of China. As proof of this the Chinese president, Xi Jinping, established Xiong’an New Area last year in April. The project is slated to become Beijing-Tianjin-Hebei economic triangle’s development hub as well as China’s second capital.

Experimental ground

Xiong’an New Area has also been tipped as the ideal place for the testing of blockchain’s urban construction abilities. With blockchain it is believed that Xiong’an New Area stands a higher chance of achieving the goal of evolving into a smart city. The building of the smart economy that will be the hallmark of the smart city is also being done by Yuhang Economic and Technological Development Area.

With excellent and enormous resources in artificial intelligence and cloud computing, Alibaba Cloud has set a goal of becoming the smart city’s smart engine. Towards this the cloud computing unit of Alibaba has boosted the construction of the smart city and is already cooperating with various provinces as well as cities in big data and the cloud. With regards to the construction of the smart city the government is an organizer, service provider and smart city operator.

Areas of focus

The partnership between Alibaba Cloud and Xiamen ZhongChuan IoT Industry Research Institute will offer the former multiple Internet of Things application solutions which have been designed by the latter. This will assist in the established of an AI hub dedicated to urban management. It will also be involved in the promotion of smart city development.

Some of the key areas of focus of the partnership include promoting Waltonchain blockchain technology with a view to achieving commercial and municipal Internet of Things coverage as well as establishing new smart urban areas in Yuhang and Xiong’an. Another area of focus will be constructing smart city schemes as well as their application which includes resource allocation optimization. Smart resource allocation is expected to be achieved using Internet of Things technology and the blockchain.

Urban management

With smart city construction it is expected that urban areas will operate more efficiently. Urban industrial structure is also expected to be optimized and upgraded as well as the promotion of a green urban economy.

Alibaba Cloud and ZhongChuan IoT will cooperate in future to ensure the development of more advanced Internet of Things and blockchain solutions which will offer maximum convenience in urban management and life.