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Blockchain Starup Seele Participants in China MIIT’s Trillions of Dollars Project

Of late, the Ministry of Industry and Information Technology of the People’s Republic of China (MIIT) launched a list of the Industrial Internet Support Projects in 2018 and encouraged government sectors to organize a batch of innovative projects to build a mature system with three main functions, including network, platform and security. Blockchain startup Seele is about to provide technical support in MIIT’s industrial internet project.

This initiative is mainly to implementing the instructions of the State Council to deepening “Internet + Advanced Manufacturing”. On a global scale, digital economic has been paired with the manufacturing industry to remodel production methods. According to the data from MIIT, in the next 2 decades, the development of industrial internet will bring over US$3 trillion of GDP growth to China which may boost upgrade of manufacturing industry followed by significant economic growth.

In order to undertake this strategic opportunity, blockchain application in industrial internet field becomes one of the primary work of the MIIT. According to the work plan, China will establish a industrial internet public service system by 2020 and promote more than 300,000 industrial enterprises to adopt cloud technology and cultivate over 300,000 industrial APPs.

It was also reported that, the Beijing University of Aeronautics and Astronautics (BUAA) will provide the blockchain technological solutions to the industrial internet public service system project.

The project leader from BUAA indicated that, they would like to adopt the technical framework provided by Seele.

“Seele’s blockchain technology framework meets the requirements in the consensus protocol and network structure. In the meantime, Seele provides industrial solutions for heterogeneous and large scale of industrial Internet data nodes as well as provides real-rime data.”

Dr. Wei Bi, the chief scientist of Seele said that: “Seele will gradually upgrade our technical framework based on the characteristics of the industrial internet and will provide versatile solutions to the community.”

The BUAA has also developed innovative technologies including the Heterogeneous Forest Network and Neural Consensus protocol that promote a broader blockchain adoption into the real economy and becomes an importance cornerstone of the construction of Digital China.


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