Tencent Cloud Aspires to Set Up New Blockchain Alliance

Tencent Cloud Aspires to Set Up New Blockchain Alliance

Blockchain
June 8, 2020 Komal Joshi
316
The cloud computing arm of China’s Tencent is to produce a new blockchain association in an effort to bring together 100 organizations to collaborate on blockchain projects. Recognized as the Industry Blockchain League, the partnership is set to be established this year and will draw on companies, government agencies, and other organizations from over industry
bitcoin-4851385_1280

The cloud computing arm of China’s Tencent is to produce a new blockchain association in an effort to bring together 100 organizations to collaborate on blockchain projects. Recognized as the Industry Blockchain League, the partnership is set to be established this year and will draw on companies, government agencies, and other organizations from over industry sectors.

The group will operate to build a set of standards and procedures for implementations of the technology, as part of a drive to stimulate the adoption of blockchain technology.According to reports, the group will assemble in three parts—a technical committee, a commercial ecosystem committee, and a committee to look specifically at blockchain standards.

The standards committee will concentrate on operating with regulators, as well as with companies in the space to promote better standards for regulation and development. Their equivalents on the technology committee will serve on planning and building new platforms powered by blockchain. The alliance is set to recruit as many as 100 members this year simply, with ideas to proceed to extend to include as many associates as possible operating towards the group’s common goal.

The move is the most advanced of numerous recent steps towards blockchain technology by the company in recent weeks, part of attempts to promote more comprehensive use of the technology. At the end of April, Tencent declared a new blockchain accelerator program to promote innovations in the sector, corresponding with the launch of a new blockchain platform in Anhui, China, which was launched to deliver government services.

Furthermore, the Chinese government is comprehended to be actively operating on a large number of blockchain projects. Notwithstanding, opposition to the digital currency, the authorities have come out firmly in support of blockchain technology for government and commercial applications.

Related posts

Add a comment