While China has been stubbornly resistant to the cryptocurrency fever that has hit the entire globe in recent years. Furthermore, it has emerged as a formidable and competing leader in the United States in several key technology areas, notably artificial intelligence and blockchain technology.
Made in China in 2025 (MIC 2025), a comprehensive 10-year project aimed at turning China into an advanced manufacturing leader. It outlines the country's strategic plan for dominance in the IA. According to the US Chamber of Commerce, MIC 2025 seems to provide preferential access to capital to national companies in order to promote their indigenous research and development capabilities, support their ability to acquire technology from abroad and improve their overall competitiveness.
It seems that it works. Data collected by Thomson Reuters from the World Intellectual Property Organization database. This shows that in 2017 over half of the 406 blockchain patent applications came from China. Academic documents, patents and funding suggest that China can compete favorably with the United States in blockchain and AI in the next decade.
In 2017, 48% of the total equity funding of IA start-ups came from China, compared to 38% financed by the United States and 13% from the rest of the world. According to an official from the Ministry of Industry and Information Technology (MIIT), Chinese patents in the artificial intelligence industry accounted for about 22 percent of the total worldwide.
Companies to watch
JD.com, one of the largest e-commerce companies in the world. Undertook a series of steps towards greater automation, with a commitment to artificial intelligence, robotics and big data, investing as much as 30 billion yuan ($ 4.5 billion) in a motorized retail research center .
"I hope my company is 100% one day automation … no human being, 100% operated by artificial intelligence and robots," says Richard Liu, founder and CEO of JD.com.
Even Baidu, Alibaba and Tencent (BAT) with a combined market capitalization of $ 1 trillion are making extraordinary gains in the IA. The Chinese science ministry announced at the beginning of this year that the country's open AI platforms would rely heavily on Baidu for autonomous driving, Alibaba for smart cities and Tencent for AI # 39; health care. There are many other Chinese companies to look closely in the field of artificial intelligence. Furthermore, some include
- Cambricon, a manufacturer of semiconductor and artificial intelligence chips
- Cloudwalk, a pioneering facial recognition and 3D scanning technology
- DJI, a leading manufacturer of drones that supports artificial intelligence and image analysis
- SenseTime, an image recognition technology company
- Ubtech Robotics, a promising robot development company
The Belt and Road Initiative
In addition, the Belt and Road Initiative is also known as One Belt One Road. It is a 900 billion dollar project that promotes cooperation, interconnectivity and openness on all continents. The initiative aims to strengthen infrastructural, commercial and investment links between China. About 65 other countries collectively representing over 30% of global GDP, 62% of the population and 75% of known energy reserves.
Enter the MATRIX AI network
"One Belt One Road is a perfect match for blockchain technology.", Explains Owen Tao, CEO of MATRIX AI Network, a global, public, intelligent, blockchain-based distributed and open source computing platform that combines artificial intelligence and blockchain that has recently signed a strategic cooperation agreement with the state-owned Belt and Road Development Center to become the only blockchain partner in the center.
"Negotiations are underway with project teams from various national governments, local governments and international companies.The first applications being processed include blockchain-based credit systems, logistic and tracking systems based on blockchains and transnational financial compensation systems", explains Tao.
In the partnership, MATRIX AI Network will provide assistance for training and consultancy both in the AI and blockchain fields and will act as the main application platform in both fields for the center. In addition, all OBOR contracts that cross the blockchain center will pass through the MATRIX AI Network.
Meanwhile, in May 2018, MATRIX AI Network announced its second partnership related to OBOR. This time it is with the International Digital Asset Company (IDA). IDA is a digitization and asset tracking company that focuses primarily on OBOR companies. To date, IDA holds approximately $ 3 billion in assets in the form of natural resources.
The partnership between IDA and MATRIX allows these resources to be further digitized using the MATRIX blockchain. In the end, this will allow activities to track and transfer this value more quickly and easily. IDA will also be among one of the first DApp to be launched on the MATRIX blockchain.
A brilliant future
According to a recent Quartz article, about 50 Chinese state-owned companies have invested in almost 1,700 OBOR projects since 2013, with projects including a $ 46 billion China-Pakistan corridor, a 3,000 km high-speed rail linking China and Singapore, and gas pipelines through Central Asia.
China is aggressively positioning itself as the central hub of an interconnected central and southern Asia, the Gulf, North Africa and the developing European economic alliance that can challenge hegemony of the United States in Western Europe.
The growth of AI and blockchain technologies, with the support of the Chinese government, has increased private investment. Furthermore, a wealth of human capital is expected to lead to great progress in the following areas
- Health care,
- Autonomous guide,
- Supply chain management,
- Urban planning,
- Retail and many others in the next decade
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