Xiong’an New Area Discusses Blockchain Applications with ConsenSys

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The Xiong’an New Area has held a meeting with the tech company behind Ethereum to discussion blockchain applications.

State media reports that representatives from Xiong’an Group and ConsenSys met in Beijing on 23 July to engage in in-depth discussions on blockchain applications and developments, before executing a memorandum of understanding.

According to state media the “use of blockchain technology during the process of establishing Xiong’an as digital city can help Xiong’an to develop into a metropolis where people feel mutual trust and harmoniously co-exist.”

Di Wei (翟伟), director and vice-general manger of Xiong’an Group, said that the Xiong’an New District already had practical experience with blockchain applications, and that in future it would provide a vast testing platform and applications market for the development of blockchain technologies.

ConsenSys founder Joseph Lubin said he hoped that the company could apply its knowledge and experience with respect to blockchain eco-systems to Xiong’an, and support Xiong’an’s innovative development model.

Digital technology and fintech lie at the core of the Chinese government’s plans for the Xiong’an New District in Hebei province.

The “Hebei Xiong’an New District Plan Outline” (河北雄安新区规划纲要) states that “Xiong’an will firmly uphold the simultaneous planning and establishment of a digital city and actual city.”

Xiong’an officials have said that blockchain technology could be used within the new area for capital management and control, compensation for residential relocations, resource allocation, data  monitoring, data security and the controlled sharing and exchange of data.

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