A new initiative in Shanghai, the largest city of China, will seek to better explore the application of blockchain technologies to the finance and construction sectors.
On 2 September the Shanghai Shutu Blockchain Research Institute executed strategic cooperative agreements with the Shanghai Construction Academy and Shanghai Pudong Development Bank.
Under the agreements Shutu will work together with the Shanghai Construction Academy on the application of blockchain technology to building lifecycle management, and with SPD Bank on its applications to pledge by warehouse receipts, deposit certificates and traceability.
Shanghai Shutu Blockchain Research Institute officially unveiled its building placque in January 2020, and its chief scientist is Andrew Yao, a leading Chinese computer scientist who is a winner of the Turing Award.
Source: China Banking News
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