China Social Media Giant Explores Blockchain

Announcements, Blockchain, FinTech, Innovation, News | April 25, 2017 By:

Chinese social services giant Tencent, the backers of WeChat and QQ, has detailed plans for a new series of blockchain services.

Tencent outlined its plans in a recently-released Chinese-language white paper. It claims it will use blockchain for authentication, digital asset management and what was termed “shared economies.”  The platform will be called TrustSQL and has three parts: a product and service layer, a core chain layer, and an application layer.

No date has been set for launch of the new services. Tencent has divisions that have explored blockchain technologies in the past, but this marks its most public and perhaps largest effort to date.