China\u2019s leading insurance company, Ping An as launched a \u201cWhite Paper on Smart Cities.\u201d Pink An is one of the leading global insurance groups.<\/p>\n
World\u2019s third largest insurance group<\/strong><\/p>\n The company is advocating for investment in big data, AI, blockchain technology and cloud computing. The insurance conglomerate has operations in banking, insurance and financial services.<\/p>\n The company released its \u201cWhite Paper on Smart Cities\u201d on August 21. The mission behind the company\u2019s investment in blockchain is to support the government\u2019s plan of developing a new model of \u201ccity as a service\u201d governance.\u00a0 The company is also proposing a systematic, comprehensive and highly-recognized solution and methodology. In the document, the company said it is proposing a system in the perspective of creativity and service.\u00a0 The statement went on to add that the company has identified a number of innovative technologies and is confidence that the new project will thrive.<\/p>\n Partnership of technology companies<\/strong><\/p>\n This project is being worked by a partnership of technology, retail and technology companies. In addition to Ping An, other companies partnering on the project are, Alibaba, Huawei and Tencent.\u00a0 A total of 50 cities in China are expected to participate in the project.<\/p>\n The smart city initiative has been dubbed PATH (Ping An, Alibaba, Tencent, Huawei).\u00a0 The project was unveiled during this year\u2019s China Smart City International Expo, which was held in Shenzhen.<\/p>\n The project is a culmination of ten years of research and planning. A total of 50 billion RMB has also been set aside for development of the project.\u00a0\u00a0 The mission behind this project is to establish China as a leading contender in the world smart cities race.<\/p>\n Other partners in PATH will have their distinct roles to play in the whole project. Alibaba will work on developing its mobile and online payment system Alipay and will mainly target Chinese citizens and businesses.\u00a0 Huawei will lead the way in manufacturing smartphones and other accompanying hardware.\u00a0 On the other hand, Tencent will be in charge of developing communications networks.<\/p>\n With more than 50 cities taking part in the project, China is on its way to becoming the world\u2019s biggest smart city testing ground.<\/p>\n","protected":false},"excerpt":{"rendered":" China\u2019s leading insurance company, Ping An as launched a \u201cWhite Paper on Smart Cities.\u201d Pink An is one of the leading global insurance groups. World\u2019s […]<\/p>\n","protected":false},"author":6,"featured_media":41121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[13016],"tags":[6509,13358,13026,13357,13359],"stock_ticker":[],"class_list":["post-41120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-news","tag-alibaba","tag-alipay","tag-blockchain","tag-huawei","tag-white-paper-on-smart-cities","entry"],"acf":[],"yoast_head":"\n