Ping An Insurance to unveil new “1+N” platform based on blockchain and AI technologies

Maria Nikolova

Ping An’s Smart City “1+N” platform is based on four core technologies: intelligent cognition, AI, blockchain and cloud technology.

Blockchain technologies penetrate deeper into the world of financial services, with another piece of proof just provided by one of China’s most significant personal financial services groups – Ping An.

The Group has announced that it will launch its innovative new Smart City and AI initiatives at next week’s China Smart City Expo in Shenzhen, China. Ping An Insurance will be launching their new “1+N” platform. Through their Smart City initiative, Ping An hopes to strengthen its status as a global technology and financial services powerhouse.

Ping An’s Smart City “1+N” platform is based on four core technologies: intelligent cognition, AI, blockchain and cloud technology. This platform, namely a set of the Smart City Cloud, integrates Ping An’s innovation technologies, and strongly supports 10 core smart city sectors including: smart administration, insurance, security, transportation, port, financial trade, finance, education, healthcare, real estate, environmental protection, and elderly care.

China is registering rapid advancement of smart city and artificial intelligence innovation. The nation is becoming a leader in developing smart cities, spearheading 500 of the world’s 1000 pilot projects. Ping An’s investment in this area is seen as crucial to smart cities’ development around the country and globally. With Ping An leading the pack, the group’s effort is making a positive impact on China’s economic and social status on the world stage.

The expo is set to take place from August 21-23, 2018 in Shenzhen.

The launch of the new platform is announced as financial institutions across the globe increasingly explore the potential of blockchain technologies. In July this year, it was announced that blockchain platform we.trade had performed its first trades. we.trade was established by Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Societe Generale and UniCredit in order to address the expectations of their customers to make cross-border trade more straightforward.

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