Tencent, Intel Partner on Blockchain Technology

Announcements, Blockchain, Innovation | September 12, 2017 By:

Chinese media and technology giant Tencent has teamed with Intel to jointly develop blockchain technology for the TUSI (Tencent User Security Infrastructure) Internet of Things (IoT) laboratory. The announcement was made at the 2017 World Internet of Things Exposition in Wuxi, China.

Tencent has been working with Wuxi High-Tech Industrial Development Zone in China’s eastern Jiangsu province to set up the country’s first TUSI IoT laboratory. The lab aims to build a trusted smart city without the need for passwords.

Under the agreement, both companies will work together to develop blockchain technology for the TUSI IoT laboratory and foster the development of security capabilities in IoT applications. The lab will use Intel’s cloud-based blockchain core technology to develop a blockchain that will provide enterprises with many services, including security monitoring and product safety evaluation, among others.

“Intel is committed to providing privacy protection, security and scalable technology, and by working with Tencent on blockchain technology, the prospects will be exciting,” said Rick Echevarria, vice president and general manager of platform security at Intel’s Software and Services Group.