Hangzhou’s largest car-part manufacturer, Wanxiang, has plans to invest $30bn into a 77-hectare “smart city” in China. The development will be built with the aim of stimulating blockchain technology use in an urban environment, and will take seven years to construct. The blockchain technology will be used to control Internet of Things (IoT) enabled “smart” devices. It could be used to increase the transparency of information included in building information models (BIM) and to verify the authenticity of building components.
China’s largest car-part manufacturer, Wanxiang, has plans to invest $30bn into a 77-hectare “smart city” in Hangzhou. The development will be built with the aim of stimulating blockchain technology use in an urban environment, and will take seven years to construct. The blockchain technology will be used to control Internet of Things (IoT) enabled “smart” devices. It could be used to increase the transparency of information included in building information models (BIM) and to verify the authenticity of building components.