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Tencent Cloud Division to Develop Industry Blockchain League

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

Tencent, one of the largest holding companies in the world, has a cloud division called Tencent Cloud. That group is looking to put together something called the Industry Blockchain League, which will be made up of 100 organizations of its choosing, according to China Banking News.

As one can imagine, the Industry Blockchain League will attempt to advance blockchain technology, and plans to have those 100 companies in by the end of this year. It will be broken up into three parts, the blockchain standards committee, a commercial ecosystem committee, and a technical committee, the publication notes.

Each of these groups will be working on building different blockchain-related platforms. Some of them will work with think tanks, others with experts in both the enterprise and various other platforms that can benefit or be benefitted by blockchain technology.

On top of this, the League will work with different media groups to bring awareness to the platform, and ensure that they can bring in money from investors and other avenues as well.

Speaking on the matter is Cao Feihu, the vice-general manager of Beijing Konglong Information Technology, who had said:

“The es­tab­lish­ment of the League is of ben­e­fit to broadly dri­ving blockchain tech­nol­ogy de­vel­op­ment and ap­pli­ca­tion.”

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