PlatON’s Role in IoT and Blockchain Joint Innovation Center Formed by China Unicom IoT and Wanxiang Blockchain

China Unicom IoT and Wanxiang Blockchain officially announced a strategic partnership and formed the IoT and Blockchain Joint Innovation Center in an opening ceremony hosted in Nanjing on Jun.28, 2019.

Dr. Xiao Feng, chairman and CEO of Wanxiang Blockchain; Mr. Chen Xiaotian, general manager of China Unicom IoT; PlatON; and representatives of the first batch of members of the IoT and Blockchain Innovation Center jointly signed the cooperation agreement in the signing ceremony.

The IoT and Blockchain Joint Innovation Center is the first program of the Innovation Acceleration Center of China Unicom IoT, and is also Wanxiang Blockchain’s first attempt at building an IoT and blockchain joint innovation center in the world.

‘When we talk about 5G, we are just talking about a new generation network that is able to transmit data at a much higher speed, and with a lower latency compared to 4G networks. There is no doubt that 5G plays an important role in the wide application of IoT. The world is already full of connected devices, and more and more are coming. The security issue inside the connections is one of the most compelling reasons to utilize blockchain, as blockchain is designed as a basis for applications involved in transactions and interactions. Thus, blockchain is the answer to IoT challenges. The combination of IoT, and blockchain technology allows for a broader picture and future. And PlatON, specializing in the development of blockchain combined with cryptographic technologies, creates a verifiable, secure and permanent method for recording data while keeping all the data and interacting devices safe in IoT.’ Said a representative of PlatON in the opening ceremony.

‘In order to reconstruct the business model of IoT, it has to be developed into an institutional technology from an instrumental technology. With the IoT and Blockchain Joint Innovation Center, Wanxiang Blockchain will try our best to achieve the commercial closed-loop of IoT and build a whole new smart society in the 5G network with the efforts of China Unicom and all partners in our ecosystem.’ Dr. Xiao Feng shared his view on the development and vision of IoT and Blockchain Joint Innovation Center.

Mr.Chen Xiaotian said, ‘It’s our pleasure to form the strategic partnership with Wanxiang Blockchain for the development of IoT and Blockchain. We will co-host and complete the IoT and blockchain ecosystem, speed up the development of 5G business, promote the platform+ ecosystem strategy of IoT, and be the leader to shape the future of the digital world.’

2019 is the year of the 5G network. As 5G network is being widely applied in businesses of all industries, IoT has become the combination of the digital and physical world, which greatly promotes the development of global digital economy. According to a GSMA report, there will be 25.2 billion connections built in IoT worldwide in 2025. In recent years, with the rapid development of IoT, the number of IoT devices are growing exponentially. Under these circumstances, Wanxiang Blockchain and China Unicom IoT’s cooperation in IoT and blockchain will keep data safe and build a trusted network for the smart society by applying blockchain technology in all aspects of the IoT industry.

IoT and Blockchain Joint Innovation Center provides the comprehensive solutions for Industry 4.0, smart city, Supply Chain Finance, New Retail, smart home, etc., by integrating the leading empowerment and high-quality service of China Unicom IoT, and the leading application abilities and advantages in the blockchain ecosystem of Wanxiang Blockchain. Furthermore, the IoT and Blockchain Joint Innovation Center will start collaborative deals with 20 excellent enterprises in the IoT industry to create professional applications based on IoT, blockchain-based hi-tech, trusted identity authentication, and data privacy-preserving.

About China Unicom IoT Innovation Acceleration Center

China Unicom IoT Innovation Acceleration Center, jointly founded by China Unicom IoT; Plug and Play, an innovation acceleration platform from Sillicon Valley; and Nanjing Qinhuai District Government, is an industry acceleration center which mainly focuses on IoT. Based on global innovation resources, the IoT ecosystem, science and technology service, the Innovation Acceleration Center helps the development of IoT and promotes regional economic growth with its business model that emphasizes strategic collaboration, interaction of businesses and resource complementarity. The IoT Innovation Acceleration Center aims to build around 100 small innovation centers by collaborating with IoT giants worldwide, providing solutions for all industries, and is dedicated to being a world’s leading IoT innovation center in the following 3 to 5 years. The center is open to cooperation on co-hosting and completing the China Unicom IoT ecosystem, and promoting the development of IoT, with more enterprises.