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Tencent acquires patent for blockchain-created missing persons poster

Tencent Singaporean Investment Giant Temasek Joins Facebook’s Libra Project
Tencent Singaporean Investment Giant Temasek Joins Facebook’s Libra Project

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Tencent, one of the leading technology companies in China, has received a patent for a blockchain-based missing persons poster. The patent was granted three years after the company lodged the filing.

Tencent’s patent for blockchain-based missing persons poster

A report by 36kr.com, a local news company, said the company was working on a novel patent to file for a blockchain-based missing person’s poster. The patent was filed three years ago, with the company filing the initial submission in December 2019.

After receiving this regulatory approval, Tencent will have the sole clearance to use blockchain technology in vital matters such as filing missing persons reports. The patent in question involves a data generation request that will be triggered after the user submits the filing of the missing person.

The submission will then be listed publicly on the blockchain, where it will be verified. After a consensus on the request has been reached, the submission will be stored in a public ledger and later forwarded to nodes, where it will be broadcast to a larger audience.

In the patent application, Tencent said that the design would improve how missing person reports are filed and traced. The patent application aligns with Tencent’s goals of bringing blockchain technology closer to everyday needs.

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Tencent has been a big supporter of blockchain technology, among other big technology companies. The company has been exploring the possibilities of bringing blockchain technology into payment systems.

Crypto regulations in China

However, the efforts made by Tencent to support bringing blockchain technology closer to its offerings have been undermined by the tough stance China took regarding crypto regulations.

Tencent launched FISCO BCOS coinless blockchain with the Huawei telecom company in 2018. The division has remained active over the years as it focuses on creating decentralized applications (DApps).

Last month, Tencent closed one of its non-fungible token (NFT) platforms after the Chinese government announced that it does not support secondary NFT sales.

While China has opposed digital assets, it has taken a centralized approach to embrace blockchain technology. Its policies have favored adopting the digital yuan, the country’s central bank digital currency (CBDC). Last week, China unveiled the first e-CNY-supported Social Security card. The card supports welfare deposits directly into the recipient’s account, after which they can be spent.

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