Blockchain firm CyberVein is set to deploy a blockchain-based governance system at a new aerospace center established in China.
A Promising Collaboration
CyberVein revealed in a medium post on September 8, 2020 that it had partnered with the regional government of Hainan Province of China for the development of a project called “Wenchang International Aerospace City”.
The purpose of this partnership is to develop and set up the “Smart Brain Planning and Design Institute” a governance solution backed by the blockchain.
The blockchain firm is one of 12 firms designated to intensify and optimize the development process of the Wenchang International Aerospace Center which includes Chinese tech giants Huawei and Kingsoft.
CyberVein’s expertise in distributed ledger technologies will be used to organize urban public resources in real time.
A Large-scale Project
The aerospace center in question is a scientific and technological metropolis whose objective is to conduct various activities revolving around the aerospace industry .
It will also be used as a market-place to market the resulting products and services on an international scale.
The city will occupy an area of more than 12 million square meters and will host nearly forty research and development areas.
Among the various sectors concerned, includes the assembly of heavy space equipment, space research, marine ecology, space reproduction, cultural tourism and continuing education.
Once construction is complete, the city is expected to be “China’s premier aerospace culture and tourism city” and one of the eleven major sites of the Hainan Free Trade Port by 2050.
The city’s development work began less than a month ago and the site previously, housed an orbiting satellite launch center.
Blockchain Flourishing in the Aerospace Sector
Blockchain technology has witnessed increased use in the Aerospace industry.
In August it was reported by BTCManager that US space agency NASA had issued funding to two firms towards the development of a blockchain-based communication solution.
Aircraft giant Boeing also made the news in March when it employed the services of blockchain supply chain platform GoDirect Trade which help track parts used to develop it’s aircrafts.
Furthermore there have been moves within different aspects of the sector towards the integration of blockchain technology and cryptocurrencies payments.
This bodes well for the future as blockchain technology adoption increases.
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