Cortex Labs (CTXC), a decentralized autonomous artificial intelligence blockchain platform where AI developers can upload their models to be integrated into smart contracts and DApps, and China Merchants Expressway Network & Technology Holdings, recently announced a strategic partnership.
The aim is to apply artificial intelligence and blockchain technology to upgrade more than 10 highways and bridges (all publicly listed companies) under China Merchants Expressway.
The applied blockchain research in transportation partnership covers transportation organization, transportation service, road coordination system, transportation payment methods, transportation industry governance, and traffic information structure, etc. The aim is to research innovative blockchain solutions for smart transportation.
China Merchants Expressway Network & Technology Holdings Co., Ltd. (CMET), is a second-tier enterprise of China Merchants Group. In August 2016, CMET was approved by the State Administration for Industry and Commerce. And on December 25, 2017, CMET merged with Huabei Expressway Co., Ltd., successfully listed on the Shenzhen Stock Exchange, which stock code is 001965.
CMET was established by restructuring the former China Merchants Huajian Expressway Investment Co., Ltd., which predecessor was Huajian Transportation and Economic Development Center (“Huajian Center”), established on December 18, 1993. It is the only state-owned enterprise at the domestic central level that manages national toll road assets.