Chinese firm to develop blockchain with Singaporean university

March 17, 2019

The Communist Party of China has disclosed through its official People’s Daily Online news outlet that local tech firm Chongqing Jinwowo Technologies (CJT) will collaborate with the National University of Singapore (NUS) in researching and developing blockchain solutions.

NUS will work with CJT on innovations as part of a blockchain and data seminar to be held in the city of Chongqing, located in China’s Sichuan province.

Pang Yan, the professor at the NUS’ School of Business and Computer Science and director of its Commercial Big Data Analysis Center, said the strategic cooperation will encompass emerging technologies such as big data and artificial intelligence, in addition to blockchain.

The Chongqing Blockchain Industry Innovation Alliance’s charter was also presented at the seminar, forming the city’s very first blockchain association.

The role of NUS in the CJT deal is expected to be broadly technical, as the university will use its expertise to help resolve various issues such as those relating to new tools.

There are other ongoing explorations of blockchain technology in China, even as the country clamps down on cryptocurrencies. Fuden University in February established a dedicated research center, known as the Shanghai Blockchain Engineering Technology Research Center, in cooperation with Zhongan Online Property Insurance Co., Ltd. and Shanghai Zhongren Information Technology Co., Ltd., with the stated aim being to conduct basic research on blockchain, demonstrate its applications, and provide talent training.

The center’s establishment will purportedly further promote the development and growth of the blockchain industry in Shanghai and that of the Shanghai economy.

Another partnership targeting blockchain and AI tools were also announced between Microsoft Corp. and Spanish telecoms company Telefonica, with the latter’s chairman and CEO Jose Maria Alvarez-Pallete expressing particular interest in “further harnessing the power of Azure AI.”

Telefonica had earlier said it was seeking entrepreneurs in blockchain and AI as part of its financing initiative to support emerging sectors.

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