Auto giant Wanxiang announced today that it will use blockchain technology as part of its newly announced smart cities initiative.
Revealed at the Wanxiang-sponsored Global Blockchain Summit, the company intends to invest ¥200bn ($30bn) over the next seven years into a project that will find it purchasing 83 million square feet of land in Hangzhou on which it will build a new development designed to promote technology innovations.
To better support this effort, Wanxiang is also seeking to fund blockchain entrepreneurs working on efforts that may be aligned with its objectives.
http://www.coindesk.com/blockchain-smart-cities-china-wanxiang/
