Tencent Registers Advertising, Fund Management Blockchain Patents

Tencent bockchain patents Source: Adobe/piter2121

Chinese business giant Tencent has actually signed up a series of new blockchain patents, according to a new report– a possible tip that the business is on the brink of introducing a series of new blockchain-related operations.

Per the Securities Times (via EGSEA), the Shenzen-based business, whose core business locations are IT services and home entertainment, has actually signed up an undefined number of blockchain-related patents in a large number of various locations.

The media outlet says that these patents consist of blockchain-based advertising and ad-monitoring services, along with fund management and “consumer” applications, hardware gadgets that make use of blockchain technology, along with storage options that are operable with blockchain networks.

The business is thought to have more blockchain patents than maybe any other on the world. Last year alone, the business is thought to have actually submitted 718 blockchain patents out of a global total of around 5,800, per figures commonly estimated in the Chinese media.

There are indications Tencent might now be on the brink of widescale blockchain commercialization.

Previously this year, the business introduced a blockchain accelerator, which has already started hiring appealing start-ups. Last month, Tencent also promised to spend a tremendous USD 70 billion on market 4.0 tech advances, consisting of blockchain.

Last year, the business introduced a digital currency research system, and is commonly thought to be working along with the main People’s Bank of China ( PBoC) on the upcoming digital yuan.

Lots Of Chinese and international experts believe the digital yuan will be interoperable with Tencent’s WeChat Pay e-pay platform, along with tech competitor Alibaba‘s Alipay The 2 platforms have already cornered some 15% of the Chinese payments market.

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