The government of the Nanshan District of the southeastern Chinese city of Shenzhen has announced an agreement with the multinational telecommunications and consumer electronics giant Huawei to boost the adoption of blockchain, among other technologies, in the region, Cointelegraph reported.
According to an April 13 report in The Global Times, the Nanshan government and Huawei will work together to establish the Kunpeng industrial demonstration zone, to accelerate the application of blockchain, artificial intelligence, big data and 5G.
They aim to turn the city into a model zone for the chip industry and other cutting-edge technologies.
As Cointelegraph reported last year, Huawei signed a strategic cooperation agreement with the People’s Bank of China (PBoC). Although few details were made public, the telecommunications giant has been developing measures to accelerate the adoption of blockchain in the country.
In April 2018, Huawei launched its Hyperledger-based blockchain-as-a-service platform, Blockchain Service.
The People’s Bank of China announced in September that it had started testing its digital currency in Shenzhen, in conjunction with Huawei and some of the biggest commercial banks in China.