Shanghai Launches Initiative to Explore Blockchain Applications to Finance and Construction

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A new initiative in Shanghai will seek to better explore the application of blockchain technologies to the finance and construction sectors.

On 2 September the Shanghai Shutu Blockchain Research Institute (上海树图区块链研究院) executed strategic cooperative agreements with the Shanghai Construction Academy (上海市建筑学会) and Shanghai Pudong Development Bank.

Under the agreements Shutu will work together with the Shanghai Construction Academy on the application of blockchain technology to building lifecycle management, and with SPD Bank on its applications to pledge by warehouse receipts, deposit certificates and traceability.

Shanghai Shutu Blockchain Research Institute officially unveiled its building placque in January 2020, and its chief scientist is Andrew Yao, a leading Chinese computer scientist who is a winner of the Turing Award.

Shutu head Long Fan (龙凡) said that blockchain technology in an emerging cross-disciplinary field within the computer sciences, encompassing distributed ledgers, cryptography, systems security, game theory and programming languages.

“Breakthroughs in blockchain technology requires computer scientists and engineers from different sub-disciplines to work hard together,” said Long.

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