Wanxiang and PlatON Join Forces for Blockchain Infrastructure of New Smart City in China

Automotive giant China Wanxiang Holding Co., Ltd has partnered with blockchain-based tech firm PlatOn to develop a "Smart city" in Hangzhou, according to a report by CryptoNinjas on June 20.

According to the report, the smart city-dubbed "Innova City"-will be built with tech using PlatON's blockchain infrastructure, for purposes like interfacing with city resident ID cards as well as monitoring driving behavior.

Innova City is projected to contain 90,000 residents when launched in 2025.

The city also plans to include an "International Research and Innovation Park" as well as Wanxiang automotive facilities with electric vehicles.

As per the report, Wanxiang has committed $29 billion to support Innova City's creation.

Wanxiang appears to have deep ties with PlatON. According to PlatON's website, PlatON partners with Wanxiang Blockchain on a consortium blockchain for enterprise applications.

Feng Xiao is listed as co-founder of PlatON, Chairman of Wanxiang Blockchain, and founder of Wanxiang Blockchain Labs.

According to Wanxiang Blockchain's website, Wanxiang created Wanxiang Blockchain, which contains Wanxiang Blockchain Labs as one of its six groups.

As previously reported by Cointelegraph, the Chinese government announced in April that it would fund the development of a blockchain-based smart city in Malaysia.

Project CEO KK Lim commented on the vision for the city, saying that they intended to use blockchain tech to transform Malaysia a "World-class tourist destination."