Proton's X50 Sports Utility Vehicle (SUV) rolls off the production line at its plant in Tanjung Malim, Malaysia, Sept. 15, 2020. Malaysian national carmaker Proton rolled out the X50 Sports Utility Vehicle (SUV) on Tuesday from the partnership with China's Geely. (Proton/Handout via Xinhua)
BEIJING, Feb. 20 (Xinhua) -- Chinese automaker Zhejiang Geely Holding Group (Geely) announced on Friday that it has signed an agreement with the Concordium Foundation (Concordium) to set up a joint venture (JV) in China, the Xinhua-run Shanghai Securities Journal reported on Friday.
Based on Concordium's outstanding blockchain technology, the JV aims to become a leading blockchain technology and service provider in China.
According to the agreement, the JV will be co-managed by both sides. Geely will hold 80 percent of the JV and the remaining 20 percent will be owned by Concordium.
The JV will assist customers in building business application scenarios and solutions in various industries by focusing on relevant cutting-edge technologies, including digital identity, regulatory technologies, privacy enhancement technologies. (Edited by Yang Yifan with Xinhua Silk Road, email@example.com)