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Chinese Internet Platform Tencent Plans To Create A Digital Currency Research Group

Tencent, a Chinese Internet-based platform company is planning to create a digital currency research group for the further advancement of blockchain technology research projects.

On Dec. 23, local Chinese outlet iFeng reported that the Chinese internet giant released a statement to its employees saying that the company is currently on the lookout for the new head of the research group.

The research group will focus on Tencent’s further advancement in the digital payment industry by utilizing blockchain technology.  Tencent is the operator behind China’s social media app WeChat.

Tencent’s Blockchain Diamonds For Sale

Recently, Alrosa, the world’s largest diamond mining firm from Russia partnered with Tencent on a new blockchain-based e-commerce project. Together with Everledger, a blockchain platform Tencent and Alrosa will launch a new diamond-focused retail mini-program targeted at WeChat’s one billion active users.

The three firms said that the program aims to improve transparency and consumer trust across the diamond supply chain by enabling social media users to purchase diamonds with full knowledge of their origin, characteristics and ownership history.

Shenzhen’s Blockchain Invoices Developed By Tencent

In November, China’s Tech Capital Shenzhen issued over 10 million blockchain-based invoices. Tagged as ‘Shenzhen Speed’ the blockchain invoices are being used on-demand without any need for purchasing physical tax invoices from authorities.

The Tech Capital is actively promoting blockchain-enabled electric billing according to the tax agency. The blockchain invoice system is reportedly developed by Tencent jointly with the tax bureau of Shenzhen.


Source: Cointelegraph | iFeng


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