Mumbai (Maharashtra) [India], August 8 (ANI/PNN): IntelliBlock, a Blockchain technology service company, announced that the company has signed a strategic business agreement (MOU) with CityLabs, a South Korean Smart City integration Platform Company - anticipating expanding in South Korea.

Through this MOU, IntelliBlock plans to work along with CityLabs on several blockchain projects that leverage web 3.0, such as Utility tokens, NFTs, and Metaverse solutions to the Smart City industry.

IntelliBlock Technologies, which has a global presence in the US, Canada and Australia, aims to provide the finest practical solutions and potential opportunities innovatively in the blockchain space in South Korea. They are creating advanced platforms and enterprise-grade products for finance, banking, supply chain, retail, commerce, healthcare and gaming markets.

City Labs is a leading Smart Solution company in South Korea that enhances the value of the future city by using solutions that converge the 4th industrial technology elements by gathering passionate talents who constantly pursue new values. They are building various solutions such as safety diagnosis of dangerous building structures and electric mobility by combining blockchain technology in the Smart city industry.

"With our expertise in the blockchain industry, we intend to bring more value to the smart city projects that CityLabs have planned", said Neha Jain, Founder & CEO of IntelliBlock Technologies.

"Due to Rapid Urbanization in India, there is a need to focus on smart cities to become more Productive, Liveable and Sustainable. Blockchain can make smart cities more secure, transparent and efficient. It will help operate cities more effectively, thereby increasing productivity and Economic Growth. IntelliBlock Technologies is researching various use cases to make it customized as required," added Neha Jain.

The purpose of the MOU is to work together for Business Development, technological Solutions and Strategic tie-ups with various organizations in the Blockchain domain to develop the products that meet all business and industry standards."

It is expected that various services will be implemented to standardize the Smart city model across the globe by leveraging Web 3.0 and blockchain technology.

www.intelliblocktech.com

This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)