Tencent aims to create a 100-strong Blockchain alliance in 2020

Tencent Cloud, a division of Chinese internet giant Tencent, which deals with the cloud computing industry, is preparing to bring together 100 organizations this year to form a Blockchain Association

On June 4, China Banking News announced that the Blockchain association will include members from a variety of sectors, including enterprises, industry associations, industry media, investment organizations, higher education institutions, and think tanks.

The organizations will work together on the common goal of standardizing blockchains and conducting research and development in the field of industrial implementations. The group will work in three different committees: the blockchain standards committee, the technical committee and the commercial ecosystem committee.

The Standards Committee will work with national regulators, blockchain companies and entrepreneurs to implement better industry-wide standards for blockchain regulation and development. The technical committee, on the other hand, will be responsible for planning and creating technological platforms based on this technology.

Both the Chinese government and industrialists have shown great interest in blockchain. On April 30, Tencent launched its blockchain accelerator program. On the same day, the government of Anhui, a province in eastern China, also launched a blockchain platform to provide government services.

Tencent recently announced it will invest $ 70 billion in fintech, blockchain, AI and cloud computing over the next five years. The company - behind China's main messaging app, WeChat - said the coronavirus crisis was the main catalyst for its decision to invest in new technologies.