ConsenSys, a New York-based company founded by Joseph Lubin which mainly builds ethereum developer products and tools, has an incubator for disruptive ethereum-based cryptocurrency and blockchain projects, conducts blockchain conferences and also advises governments around the world on the use of blockchain technology.
The Chinese president, Xi Jinping is looking to convert the dusty plains of Xiongan into a dream city. ConsenSys and the Chinese government are looking to integrate blockchain into the region’s core infrastructure this is despite the ban cryptocurrencies.
On Monday, ConsenSys and the Xiongan government have signed a memorandum of understanding (MoU) in which ConsenSys would advise on the use of blockchain technology to build a smart city to the Xiongan government.
Joseph Lubin, the founder of ConsenSys and also the co-founder of ethereum stated “As one of our first major projects in China, we are excited to help define the many use cases that could benefit from the ‘trust infrastructure’ enabled by ethereum technology”
ConsenSys employes around 1000 employees from all around the world and has been advising governments across the world from Dubai to the European Union and now the Chinese government. China has been pushing blockchain technology and in the 13th Five-Year plan has written blockchain technology for China’s development in the 5 years to 2020.
ConsenSys agreement with the Xiongan government makes it the first company from outside China to marry blockchain with the development of their dream city. Tencent, QiHoo 360 and Ant Financial have previously partnered with the local government to bring blockchain in the areas from finance to cybersecurity to house renting.