Chinese Insurance Giant Partners with Blockchain AI Startup

ABR
April 4, 2019

SingularityNET, an Ethereum (ETH)-based decentralized artificial intelligence (AI) startup, has announced its collaboration with Chinese insurance conglomerate Ping An.

According to SingularityNET’s press release, Optical Character Recognition (OCR), Computer Vision (CV) and model training will be the initial focus of the collaboration. The firm noted that its scope intends to cover various initiatives and industries going forward

The partnership was announced following the official launch of the beta version of SingularityNET’s ETH-based decentralized market platform on February 28th, 2019.  SingularityNET previously partnered with Hara, a blockchain startup focusing on agriculture, in a collaboration that was announced at the World Web Forum in January 2018.

Ping An currently serves 170 million customers and was ranked 10th last year in the Forbes Global 2000 list of the world’s biggest public companies, having also been singled out as the most valuable insurance firm in the world in 2017 by Brand Finance.  In November 2018, Ping An inked a strategic cooperation agreement for “Smart City” construction based on blockchain, biometrics, and other technologies with the Sanya municipal government on China’s Hainan island.

Also in November, Ping An’s banking subsidiary, known as Ping An Bank, was reported to be launching a boutique bank – a non-full service investment bank supporting individualized services – employing blockchain, cloud services and Internet of Things (IoT) technology.

As noted by the SingularityNET press release, Ping An’s unstaffed “One Minute Clinics,” which provide medical consultations using AI, have already been implemented in eight Chinese cities.

SingularityNET sees AI development as a rapidly growing field that it projects will contribute over US$15 trillion to the global economy by 2030.

Source: cointelegraph.com

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
South Korea’s Postal Service to Adopt Blockchain for Billing
South Korea’s national postal service is partnering with Coinplug to apply the technology to its bil...

June 19, 2019

‘F1 Delta Time’ Offers In-Game Items Stored on Blockchain
A Hong Kong-based game developer is integrating blockchain into its titles to allow permanent owners...

June 18, 2019

BLOCKCHAIN: A Game Changer for Regtech
Fast forward to 2019, and RegTech is expected to undergo far-reaching disruption, with blockchain ex...

June 17, 2019

Blockchain Video-on-Demand Platform Introduced at Cannes Film Festival
The first Indian blockchain video-on-demand platform ‘myNK’ was launched at the Cannes Film Festival...

June 13, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us