Chinese Car Maker and Blockchain Tech Firm Partner to Build A Smart City

Wanxiang, a major Chinese car manufacturer, partners with blockchain-based tech firm PlatOn to develop a “smart city” in Hangzhou.

The smart city will be called “Innova City”. PlatON’s blockchain infrastructure will provide the founding technology for its urban infrastructure, from the city resident ID cards to analysis of the driving behavior.

Vincent Wang, Chief Innovation Officer at Wanxiang:

“Imagine a smart transit system that tracks and rewards responsible driving behavior, or a renewable power grid that incentivizes energy generation and trading, or even a myriad of urban services that can be validated, built, and offered at ease without the constraints of rigid data silos.”

Innova City is projected to have 90,000 residents when launched in 2025. The city will have “International Research and Innovation Park” as well as Wanxiang automotive facilities with electric vehicles. Wanxiang has allocated $29 billion to the project.