What happened: Chinese automotive component manufacturer Wanxiang has partnered with Hong Kong-based blockchain non-profit organization PlatON to develop data infrastructure for a smart city project in the eastern Chinese city of Hangzhou dubbed “Wanxiang Innova City.” PlatON’s blockchain technology will be used to track, transfer, and secure sensitive data gathered from resident identification cards, smart equipment, and other devices. One of the use cases for PlatON’s blockchain solution is to monitor driving behavior and use the data to train autonomous driving systems.
Why it’s important: Wanxiang, known as the country’s largest auto parts manufacturer, has been an active investor in China’s blockchain space. The automotive giant has pledged to commit $29 billion in the smart city project over the course of the next decade. Innova City is set to be completed by 2025 and is expected to accommodate 90,000 residents. The city, which will be built on a 8.3 square kilometer plot of land, is said to be one of China’s largest blockchain-based smart city when completed.