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China’s Ping An to Build Blockchain and AI-Based ‘Smart City’
Insurance, AI, Blockchain, Smart Cities
Less than a quarter after it published a paper on Smart Cities, Chinese insurance giant Ping An is now slated to build one.
According to the CoinTelegraph, the Ping An Insurance Group has signed an agreement with the Sanya municipal government to build a “smart city” backed with blockchain, AI, big data, and cloud computing technologies.
The deal is part of a wider urban development plan and includes not only “comprehensive cooperation” from Ping An, but also a sizable investment “to develop smart city construction, financial products and services, and insurance fund utilization.” Xinhua News pegs the number at CNY30 billion (over $4 billion).