On April 30, 2018 APEX Network announced a partnership with the Shanghai Data Exchange. The data exchange is one of China’s largest big-data platforms, and has the approval of the Shanghai Municipal People’s Government.
The Shanghai Data Exchange, in coordination with various enterprise and academic entities, formed to create China’s first national engineering laboratory for big-data distribution and exchange technologies. The national engineering lab aims to develop China’s ability to support big data sectors such as finance, media, healthcare, energy, education, and advanced manufacturing.
In addition to government and academic sector coordination efforts, the Shanghai Data Exchange has also partnered with Alibaba, Huawei, and Deloitte to increase analytics, data-enrichment, and consumer insights as use cases. Furthermore, China Telecom and China Unicom (among the country’s largest telecom providers) have a vested interest and are key shareholders of the data exchange.
In early April of 2018, the Shanghai Data Exchange entered into a cooperation agreement with Chinapex, and its blockchain division, APEX Network.
Through the partnership, APEX Network will enable smart contracts to run on APEX Virtual Machine, which is connected to a government-backed validator through the APEX Data Collector, a proprietary data integration middleware. The APEX Network blockchain seeks to provide quality and cost-effective data verification for business-to-consumer (B2C) and business-to-business (B2B) transactions.
Jimmy Hu, APEX Network and Chinapex CEO, has also stated the blockchain platform assists all enterprise users to adopt best practices [and] become General Data Protection Regulation (GDPR) compliant.
More information about APEX Network can be found through the links below.