Government officials in Xiongan New Area have announced a partnership with Ethereum development studio ConsenSys to develop blockchain initiatives for China’s “dream city.”
According to the South China Morning Post, the Xiongan government has signed a memorandum of understanding (MoU) with the U.S.-based ConsenSys to “establish Xiongan as a next-generation smart city and a leading blockchain innovation hub.”
Formally announced in 2017, Xiongan is a pet project of Chinese President Xi Jinping, and the central government has said that it will eventually move a number of “non-core” government agency and research facility headquarters to the region from Beijing.
The partnership with ConsenSys — whose founder, Joseph Lubin, also co-founded Ethereum — marks the first time that Xiongan has publicly enlisted the efforts of a foreign development studio to contribute to its blockchain efforts. However, this technological field is central to the city’s agenda.