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Sun Wenlong, vice director of the China Electronics Standardization Institute, delivers a keynote speech at the forum. [Photo by Xiang Wenjian/chinadaily.com.cn] |
Canada-China IoT and Blockchain Research Institute launched its first blockchain technical product, CityChain, at the forum, which is designed to advance credible data exchanges for smart city construction, which Wuxi primarily is focusing on.
The institute is a Toronto-headquartered non-profit organization dedicated to promoting the application of blockchain technology in IoT. It set up its first branch in Wuxi in August.
It has also teamed up with the iGenius Business School to develop all the courses for a blockchain training program that is authorized by the Chinese Ministry of Industry and Information Technology.
According to a report from global consultancy International Data Corp, worldwide blockchain spending is expected to hit $1.5 billion in 2018, double the figure in 2017, and it is projected to reach $11.7 billion by 2022.
