Factom, iSoftStone Collaborate To Bring Blockchain Technology To China’s Smart City Solutions

The rapid urban development in recent times and the push towards building smart cities provide an avenue for using blockchain technology to secure the smart city infrastructure. Blockchain-based systems can provide greater transparency and accountability while at the same time reducing administrative and audit costs.

Factom, the provider of blockchain-as-a-service to enterprise customers, has collaborated with iSoftStone, technology consulting firm. The companies will work together to develop a blockchain strategy for a smart city solution, according to the press release published on The Merkle.

As part of this solution, Factom’s Apollo Product will offer a data storage, auditing, and verification layer for several regions in China.

“We are excited to participate in such an innovative project with iSoftStone,” said Jack Lu, CTO of Factom Inc. “They are industry leaders that can help guide us in the fast moving Chinese market. With iSoftStone’s help, we get to build the framework that will underpin connected modern cities.”

iSoftStone is a leader of smart city and industry Internet development, and a leading innovative technology services provider. It focuses on two major business areas – smart business, and information technology services:

• In its smart business sector, the company focuses on facilitating and driving strategic opportunities in China’s rapidly expanding smart city business sector.
• In its IT services sector, iSoftStone offers a comprehensive set of solutions and services in IT outsourcing, business process outsourcing (BPO), crowdsourcing, and system integration.

“By applying Factom blockchain technology to our financial services, smart cities big data services, and construction of data exchange, we will drive more innovation in China,” said Mr. Ye Yuping, Executive VP & CTO of iSoftStone. “By leveraging the advantages of both parties, we look forward to seeing a brighter future. We are sure that the integration of Factom and smart cities will bring more development opportunities for both sides.”