WeBank, the digital bank of China’s Internet giant Tencent, has signed a collaboration agreement with the Macao Science and Technology Development Fund (FDCT), an initiative established by the Macao government, over the development of smart city projects on the areas of infrastructure, public services, government administration, and talent training.
Under the agreement, the two parties will collaborate on fintech projects to promote the “futuristic urban development” of the Macao SAR leveraging blockchain, artificial intelligence (AI), big data, cloud computing and other technologies, to enhance the science and technology capabilities of the Guangdong-Hong Kong-Macao Greater Bay Area.
“In this collaboration, we will utilize innovative technologies such as blockchain as a fulcrum to strengthen the technological innovation capabilities of the [Macao] SAR government, to promote the development of the smart city, and to benefit people’s livelihood through science and technology,” Ma Chi Ngai, president of Administration Committee of FDCT, said in a statement[1].
“Through the strong collaboration and mutual support, we will take full advantage the Greater Bay Area’s strength in technological innovation to inject new vitality into the region […] and develop [the Macao] economy.”
Henry Ma, executive vice president and CIO of WeBank, said in a speech that the two parties will jointly explore new models of cooperation between the public and private sectors. He expects the partnership to provide “a meaningful reference for all enterprises and individuals committed to the development of the Greater Bay Area.”
The first collaborative project will be based on WeIdentify, an entity identity authentication and data exchange solution which leverages blockchain technology. WeBank will provide technical support for e-government services in Macao and focus on enhancing the service experience of Macao residents.
WeBank has been exploring blockchain and distributed ledger technology since 2015. In
