Blockchain platform partners with Chinese data consortium

Blockchain platform partners with Chinese data consortium

Business news |
By Wisse Hettinga

Shanghai Data Exchange is one of the largest big data platforms in China and is backed and approved by Shanghai Municipal People’s Government propelling the data-driven capabilities of various core economic sectors. It also is the entity behind China’s first national engineering lab for big data distribution and exchange technologies. Key shareholders with vested strategic interest include China’s largest telecom companies China Telecom and China Unicom. Currently, the Shanghai Data Exchange is partnered with large companies such as Alibaba, Huawei, and Deloitte, to drive value-add to use cases within their own ecosystems, such as analytics, data-enrichment, and consumer in.

For APEX Network, a potentially game-changing value add of the partnership agreement would enable smart contracts running on APEX Virtual Machine to connect to a government-backed data validator, through APEX Network’s very own proprietary data integration middleware APEX Data Connector. This would ensure pilot program enterprise users as well as future long-term enterprise users of the APEX Network blockchain will be able to verify various B2C and B2B data transactions to ensure quality and cost-effectiveness.

See also: Computer the size of grain of salt embeds in everyday objects

“We could also technically acquire completely new datasets from the Shanghai Data Exchange consortium, but we plan to use the cooperation for data verification only, which already a big use case for our blockchain and its future dApps. Enhancing consumer consent and compliance protocols is one of the core principles we uphold when building APEX Network. We aim to help all of our enterprise users to adopt best practices become GDPR (General Data Protection Regulation) compliant,” says APEX Network and Chinapex CEO Jimmy Hu.

See also: Blockchain partnership enables mobile payments and micro-lending

Shanghai Data Exchange will also help add value to Chinapex’s artificial intelligence capabilities through dataset enrichment. Given Chinapex has been in the Artificial Intelligence business since 2016, the company would have practical use cases on enhancing performance of its machine learning models in its flagship AI platform IQ, one example out of many of such use case is outlined in the recent announcement of Maserati partnering with Chinapex on AI in the Greater China region.


See also: AICHAIN and Bitmain bring AI and Blockchain together

See also: Blockchain data network to boost manufacturing

See also: First blockchain phone to be manufactured by Foxconn

See also: Blockchain advances distributed cloud computing

If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :    eeNews on Google News


Linked Articles