Photo/Shetuwang

Dec. 5 (NBD) -- South China's Hainan Province on Wednesday lifted the veil on its blockchain- and big data-based service and operation platform for digital cities.

The platform, dubbed as "Hainan on Blockchain", will help facilitate smooth flows of talents, resources, capital and data to boost the construction of Hainan Free Trade Zone (FTZ).

A total of 12 firms including the blockchain unit of Baidu, Huobi China, AnmaiCloud, and Nenglian Tech have joined hands to promote the scenario development and application of "Hainan on Blockchain".

Also, the blockchain pilot zone in the Hainan FTZ, will set up a special fund of 1 billion yuan (142 million U.S. dollars) to finance blockchain companies.

National Business Daily noticed that the blockchain pilot zone, the first of its kind officially authorized in China, has so far accommodated more than 100 blockchain organizations and companies and is one of the fastest-growing blockchain clusters across the country.

Dubai on the same day signed an agreement of strategic cooperation with the blockchain pilot zone, as the business hub of the Middle East aims to record over 50 percent of government transactions using blockchain technology.

Email: lansuying@nbd.com.cn