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Author Topic: [2018-07-24]China’s ‘Dream City’ Taps Ethereum Dev. Studio ConsenSys for Blockch  (Read 19 times)
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July 24, 2018, 08:46:00 AM

China’s ‘Dream City’ Taps Ethereum Dev. Studio ConsenSys for Blockchain Push

Government officials in Xiongan New Area have announced a partnership with Ethereum development studio ConsenSys to develop blockchain initiatives for China’s “dream city.”

According to the  South China Morning Post, the Xiongan government has signed a memorandum of understanding (MoU) with the U.S.-based ConsenSys to “establish Xiongan as a next-generation smart city and a leading blockchain innovation hub.”

Formally announced in 2017, Xiongan is a pet project of Chinese President Xi Jinping, and the central government has said that it will eventually move a number of “non-core” government agency and research facility headquarters to the region from Beijing.

The partnership with ConsenSys — whose founder, Joseph Lubin, also co-founded Ethereum — marks the first time that Xiongan has publicly enlisted the efforts of a foreign development studio to contribute to its blockchain efforts. However, this technological field is central to the city’s agenda.

In fact, the government has listed blockchain as one of several cutting-edge technologies that it believes can turn Xiongan into a leading tech center, and it has enlisted the efforts of a number of domestic firms including Tencent and Ant Financial to develop blockchain initiatives for both public and private services in the city.

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July 24, 2018, 03:33:54 PM

I think that existing of these State-level new areas, one of which is Xiongan, is a very good thing overall because they are granted various privileges to attract foreign investors encouraging their involvement in the economic development. Thus this country, while still governed by communist regime, becomes less secluded and thus open to progressive changes.

While I'm glad that they will be cooperating with ConsenSys, a New York based software company, I'm a bit curious why can't they use NEO with its NEP-5 protocol and ability to perform up to 1,000 transactions per second? Or, am I missing something and they are not actually going to use Ethereum-based blockchain?

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