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Chinese Internet Giant Tencent Plans To Create Digital Currency Research Group

Tencent, the operator of Chinese social media app WeChat, is preparation to create a digital forex analysis group for the additive development of blockchain know-how analysis tasks.

On Dec. 23, Chinese media outlet iFeng reportable that the Chinese web large launched a release to its workers locution that the corporate is presently looking out for the brand new head of the analysis group.

The yet-to-be-established digital forex analysis group will reportablely deal with Tencent’s additive development inside the digital fee business by victimisation blockchain know-how.

Cointelegraph contacted Tencent relating to these newest developments still had but to obtain a response as of press time. This clause shall be up up to now if new feedback are available in.

Blockchain diamonds on the market on WeChat

Just lately, Tencent introduced a brand new partnership with the world’s largest diamond mining agency, Russia’s Alrosa, and blockchain platform Everledger, to launch a brand new diamond-focused retail mini-program double-geared toward WeChat’s one billion lively customers.

The collaboration between the three firms goals to enhance transparency and client impression throughout the diamond provide chain, enabling social media customers to buy diamonds with full information of their origin, traits and possession historical past.

Shenzhen’s blockchain bill system developed by Tencent

At the start of November, Shenzhen’s tax service reportable that over 10 million blockchain-based invoices had been issued inside the Chinese tech capital and that it’ll proceed to actively promote blockchain-enabled digital billing. Shenzhen’s blockchain bill system was developed by Tencent.

Over 7,600 firms have already used the blockchain-based bill system, comprising a complete worth of near $1 billion. The blockchain invoicing service has been utilised thusfar in native finance, insurance coverage, retail, lodge catering and parking providers.

Chinese Internet Giant Tencent Plans To Create Digital Currency Research Group

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Patricia Bakely

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