Huawei has just signed an agreement with the government of the Nanshan District of Shenzhen, Southeast China. The agreement is to have the Chinese tech giant help speed up the adoption of Blockchain, Big Data, and 5G networking.
#Huawei and Nanshan government of #Shenzhen signed an agreement Friday to establish #Kunpeng industrial demonstration zone to accelerate the application of #blockchain, artificial intelligence, big data, and #5G, and forge the city into a model area for the #chip industry. pic.twitter.com/lazdU6b437
— Global Times (@globaltimesnews) April 13, 2020
This move will also strengthen China’s Digital Currency economy and also serve as a connection between China and Hong Kong. Furthermore, Huawei will collaborate with the People’s Bank of China to begin the testing of its own virtual currency in Shenzhen with leading commercial banks in 2020. Despite Bitcoin being banned in the country since 2017, China reportedly sees great potential in its supporting infrastructure, Blockchain.
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The Southeast Asian region is often seen as a technological hub, so it comes as no surprise that China wishes to expand its digital horizons. Notably, Shenzhen is also the site where a model for the semiconductor business will come up. China already is one of the leading nations when it comes to 5G adoption, thanks to Huawei in part with its industry leading equipment and infrastructure.
Thus, growing involvements in the digital spheres between the electronics company and China will strengthen both sides. The applications of digital currency through Blockchain also have a very wide field of applications including, and not limited to, Healthcare.
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