Tencent Registers Advertising, Fund Management Blockchain Patents

Tyler Hromadka

Source: Adobe/piter2121

Chinese business giant Tencent has actually signed up a series of brand-new blockchain patents, according to a brand-new report– a possible tip that the business is on the brink of releasing a series of brand-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 variety of blockchain-related patents in a large variety of various locations.

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

The business is thought to have more blockchain patents than maybe any other on earth. In 2015 alone, the business is thought to have actually submitted 718 blockchain patents out of a global overall 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 actually currently started hiring appealing start-ups. Last month, Tencent likewise promised to invest a massive USD 70 billion on market 4.0 tech advances, consisting of blockchain.

In 2015, the business introduced a digital currency research study 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, in addition to tech competitor Alibaba‘s Alipay The 2 platforms have actually currently cornered some 15% of the Chinese payments market.

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