Wanxiang Holding Co., Ltd, a China-based automotive giant partners with blockchain-based tech firm PlatOn to develop a “smart city” in Hangzhou, as per a report by CryptoNinjas on June 20.
The report states that the smart city dubbed as “Innova City” will be built through PlatON’s blockchain infrastructure, purportedly for the purposes of interfacing with city resident ID cards and monitoring driving behavior, among others. The report adds a statement from Chief Innovation Officer at Wanxiang, Vincent Wang, who shared more details: “Imagine a smart transit system that tracks and rewards responsible driving behavior, or a renewable power grid that incentivizes energy generation and trading, or even a myriad of urban services that can be validated, built, and offered at ease without the constraints of rigid data silos.”