The Belt and Road Summary
The Belt and Road
The Belt and Road Initiative aims to build a platform of multilateral cooperation between China and countries along the Ancient Silk Road. The B&R consists of three main land routes and two main maritime routes, connecting the vibrant Chinese economy with the South Pacific, Eastern-Africa and the more developed European economy. With an enduring global economic growth in mind, China will leverage its advantage in manufacturing capacity, technology, capital, expertise and advanced industrial models within a broader framework of principles of political trust, economic integration and cultural exchange. China’s B&R already secured the participation of 171 countries and organizations through 205 cooperation agreements, and will define the 21st-century way of international cooperation.
Thanks to its central position for the exchange of resources and basic materials between China and its neighbors to the west, the Chinese province Xinjiang will play a crucial role as a gateway in the B&R Initiative. Xinjiang is building itself into the center of transportation, commerce, logistics, finance, culture, education and medical care for the surrounding area, and into the main hub for the three B&R routes that lead to Central and West Asia, Russia and beyond.
The enormous B&R-related infrastructure works will require large quantities of heavy machinery. A lack of skilled workers and the harsh Xinjiang climate make traditional machinery maintenance challenging, and that’s where Matrix’s predictive maintenance technology comes into play. Matrix is using IoT to construct a predictive failure alarm system for highly advanced maintenance. Properly functioning machinery is crucial for reaching Xinjiang’s infrastructure goals and if Matrix’s predictive maintenance is adopted by all B&R projects, each year 1.5 billion USD of maintenance costs will be saved. Matrix’s system has achieved great results so far and already won the recognition of many in Xinjiang.
Energy production is one of the major industries of Xinjiang, and its huge reserves of coal, oil and natural gas are crucial for construction projects along the Belt and Road. Xinjiang also has incomparable access to wind and solar energy, but due to the unpredictable nature of weather conditions, it is extremely difficult to fully utilize. In wind power production, oftentimes more electric power is generated than can be consumed or stored up, leading to a waste of 30% to 35% in Xinjiang. Currently, in a cooperative program with China Huadian Corporation, Matrix is using AI modeling to predict wind force for more accurate estimates leading to more efficient planning. Matrix achieves 92% efficiency, cutting energy waste by 70%. In the future, Matrix’s AI prediction will also be applied to solar and hydropower, and help improve the efficiency of coal and natural gas usage. With Matrix’s support, the energy industry in Xinjiang will be of better service to the B&R Initiative.
Smart Industrial Park
Xinjiang suffers from a workforce shortage due to its lack of skilled workers, a high cost of labor and dangerous mining and excavation conditions. For Xinjiang to become the hub of the B&R, Matrix is offering its AI technology as an alternative to human workers. It will guarantee the smooth operation of manufacturing, infrastructure building, energy generation and many other industries while significantly cutting down costs. In the cooperative project with TBEA (Unmanned Mine), the combination of 5G, IoT, AI and robots enable a completely unmanned coal mine. Matrix’s part revolves around constructing the blockchain network for AI and data collecting. This pilot project started in mid-2020 and is expected to be delivered by early 2022. If successful, it will be promoted across the industry.
Computing Power Grids
Under the pressure of the carbon neutrality trend, China is cracking down on Bitcoin mining. Thanks to its cheap energy resources, Xinjiang is home to the largest number of Bitcoin mining farms in China, putting it in a great position to take advantage of this crackdown to develop computing power grids.
In its cooperative projects with large electric power companies (China Huadian, China Guodian, TBEA, etc.) in Xinjiang, Matrix will be providing AI solutions including smart power generation, predictive maintenance, etc. These companies will build their own computing centers and connect to Matrix’s distributed computing power platform.
How Does This Benefit Matrix?
Matrix is honored to contribute to the Belt and Road Initiative in Xinjiang, and will benefit in the following ways:
1) MANITO (MAN Industry Tech Open-Platform) is one of the pillars of MATRIX 2.0. All the B&R projects that Matrix participates in can be adapted into services that will target clients in the manufacturing and energy industries. These services will operate on Matrix’s computing power and require MAN for settlement. All this will mean more income for miners of Matrix AI Network and more liquidity for MAN.
2) Matrix is participating in building computing power grids in Xinjiang. In the future, Matrix hopes to connect its mainnet to these grids, which will broaden the revenue streams for companies that have a part in constructing these grids and help them avoid resource waste by increasing temporary demand volatility tolerance. For Matrix, cheap electric power and the takeover of Bitcoin mining farms will benefit its ecosystem, as affordable computing power is at the core of Matrix 2.0.
3) Matrix envisions a larger market share for MANAS and MANTA, by bringing all its business partners in Xinjiang into its own ecosystem. These are mostly governmental corporations or listed companies of scale, and when they become clients of the AI services on MANAS and MANTA, the liquidity and value of MAN will receive an unprecedented boost.
Matrix’s endeavor to support the Belt and Road in Xinjiang will pave the way for the future success of the company in Central Asia and Europe.