At this year’s Cross-Strait Talents and Projects Conference held in Zhangzhou, China; the focus centered around stimulating communication and prosperity between China and Taiwan. As a means to achieve this objective, the Xiamen IoT Technology Co., Ltd. (Waltonchain implementation team) partnered with the Taiwan Cloud Service Association, as well as the Zhangzhou municipal government to announce a proposed construction plan for a blockchain park within the Zhangzhou region. The project consists of many cross-strait experts within the industry and will act as a key resource for blockchain engineers.
A Waltonchain affliate , Quanzhou Silicon Technology joins the Agreement Signing Ceremony to become part of the First Batch of Government Approved Projects to be Registered within the Fujian Integrated Circuit Industrial Park, Details below: pic.twitter.com/LM4zoaIINO
— Waltonchain (@Waltonchain) November 25, 2017
Following this announcement, a cooperation agreement for a cross-strait blockchain incubator between the Zhangzhou High-Tech Zone (Technology Development Zone) and Xiamen IoT Technology was signed. The project will be co-developed by Xiamen IoT Technology and the Taiwan Cloud Service Association. Additional parties to the agreement include the College of Computer Science and Technology of Huaqiao University and the Chinese Association for Science and Technology among others.
According to Harry Lin, the IOT Technology CEO, “Signing a cooperation agreement on cross-strait blockchain talent bases in Zhangzhou High-Tech Zone will not only fully prove the strength of IoT Technology Co., Ltd in the blockchain industry, but also demonstrate its determination to promote the development of China’s blockchain industry. The foreseeable future will see IoT Technology definitely become the pacesetter in the blockchain industry” (Source).
A link that no doubt led to the Xiamen IoT Technology partnership with the Taiwan Cloud Service Association is Zhu Yanping, a senior advisor for the Waltonchain platform. In addition to his advisory role for Waltonchain (which IoT Technology has been tasked with implementing), Mr. Yanping is also a Chairman of the Taiwan Cloud Service Association, creating a common interest between the two companies.
Why would the Zhangzhou Municipal Government trust WaltonChain and the Taiwan Cloud Service to work together? Simple, they always have. Huge partner, huge ties, big market. pic.twitter.com/wZ3brEgYYN
— The Waltonian (@WTCWaltonNews) November 20, 2017
For Xiamen IoT Technology and Waltonchain, the joint venture is of key importance as the Taiwan Cloud Service Association, “…involves all of the country’s major cloud computing players from government, industry, and academia, [and] has been formed to foster collaboration and integration among service providers and to coordinate domestic and international cloud computing alliances” (Source). Furthermore, the Taiwan Cloud Service Association is also in charge of providing policy-making feedback to the government and is comprised of, “…more than 150 ICT companies in Taiwan, including the three main service providers, Chung-Hwa Telecom, Taiwan Fixed Networks, and FarEasTone Telecommunications, the world’s four largest server ODM manufacturers, Inventec, Foxconn, Wistron, and Quanta, the world’s top network switch ODM manufacturers, Accton and Alpha Networks, and several international companies such as Intel, Microsoft, Cisco, NEC and Fujitsu” (Source).
One advantage of building the incubator in the Zhangzhou Hi-Tech Industry Development Zone, is the region’s strong business ties which includes, “… [an] established startup service center, professional incubations, innovation bases and complete service agencies, [and] over 1500 hi-tech enterprises” (Source).
Additional information detailing the Zhangzhou Hi-Tech Development Industry Zone:
- 9 out of worlds top 500 enterprises have invested in the zone
- Ranked third for five successive years among 53 national hi-tech zones in terms of per capita profit.
- Based in a Chinese metropolis that is second in size only to Shanghai
- Located in the most economically developed Yangtze Delta
- Capital of Zhejiang Province
- Only state-level Hi-tech Industry Development Zone in Zhejiang Province
- 180 km away from Shanghai and Ningbo
- Communication hub in East China
- Software development and production hub
- Rapid development with independent intellectual property like Sunyard, Alibaba, etc.
- Software development and production involving in fields of securities and finance, e-commerce, ERP, CAD
- One of 11 national software industry bases
One additional party to the incubator agreement is the Chinese Association for Science and Technology (CAST) which was created in 1992 and is registered in the state of New York as a non-profit organization. The organization comprises of, “…thousands of members in more than 30 states across the United States, working in universities, industries, government agencies and other sectors….[and] is now one of the most-recognized organizations among Chinese professionals in the United States” (Source). To serve as a “bridge” between the United States and China for both personnel and information exchanges, and for the cooperation in science and technology, economic, trade and other areas.
What does this all mean for Xiamen IoT Technology and Waltonchain?
To sum up, by partnering with the Taiwan Cloud Service Association, Xiamen IoT Technology and Waltonchain are tapping into an already established business that has an array of connections within the technology and software industry. The Taiwan Cloud Service Association is a well-known entity within the region and its reputation as a leader in the cloud computing space will help Xiamen IoT Technology and Waltonchain obviously attract high-end partnerships and contracts but also attract leading academics to join the incubator. The Zhangzhou Hi-Tech Industry Development Zone will play a similar role in both attracting top talent to the project due to its strong reputation as a communications and software development hub as well as create a Silicon Valley type of approach for adding ICOs and partners into the Waltonchain ecosystem.
The primary duty for the Chinese Association for Science and Technology will be to serve as a recruitment funnel for high-quality potential incubator applicants. Lastly, the incubator itself will serve as a talent pool for future Waltonchain developers and programmers, contributing to a stable future for the coin with consistent growth and improvement for years to come.
Lastly, a government sponsorship for Waltonchain reduces the fear, uncertainty, and doubt regarding the ICO ban and Waltonchains ability to operate in the region. If Waltonchain continues to see government sponsorships, the opportunities provided to the company will vastly equate to their potential without such partnerships in place.