Ping An Insurance's “White Paper on Smart Cities” Promotes Blockchain and AI Use

“White Paper On Smart Cities” Promotes The Integration Of Blockchain, AI, and Other Data Technology For Largest Insurance Group in China

On August 21nd, Pin An Insurance of China released an article that described their support for technologies that could help them to better serve their customers. The article, titled “White Paper on Smart Cities,” specifically discussed blockchain, artificial intelligence, big data, and cloud computing technology. The article was announced by People’s Daily on August 22nd.

Ping An Insurance is presently one of the biggest insurance company groups that the world has ever seen, and they provide their customers with insurance, banking, and other financial services. In fact, their performance with customers has earned them a strong place in the world as the third-most valuable company for financial services, based on their performance since May 2018.

In the report from People’s Daily, they found that the goal of this white paper and their new plan is to

“help the government to create a new model of ‘city as a service’ governance,” as well as to “propose a comprehensive, systematic, highly-recognized methodology and solution, with ‘wisdom, [and intelligence]” as the main line of thinking.

Upon reading the document from Ping An Insurance, it also says, “In promoting the development of “smart city”, Ping An puts forward the system of [intelligence] in the perspective of service and creativity and promotes it with practice. At present, Ping An has mastered a large number of core professional technologies and is more confident in this field. Ping An's five core technologies: biometrics, big data, artificial intelligence, blockchain and cloud platforms have reached the global leading level.”

Right now, China is leading the world in innovative technology, and it continues to implement new opportunities for the community to move forward. Blockchain technology, artificial intelligence, and Internet of Things (IoT) are all major components of the “smart cities” that China is working to develop. Presently, the goal is to develop and institute at least 1,000 of them.

The country has already established several of these cities, like Xiong’an. Xiong’an was classified as a special economic zone last year in a declaration from President Xi Jinping. To help the government further develop their blockchain solutions, ConsenSys signed a memorandum of understanding (MoU) with them as they create additional software.

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