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Tencent to deploy blockchain platform

Wednesday 26 April 2017 | 11:05 AM CET

Tencent, a Chinese internet conglomerate, has announced plans to build a suite of blockchain services.

Named “TrustSQL”, the new platform is envisioned as a three-part system, incorporating the core chain layer, a product and service layer, and an application layer. The company is planning to use the technology to offer digital asset management, authentication and “shared economies”, among others services.

Tencent would leverage its technological resources to push the platform, and sees the project as an open-ended one that encourages collaboration with other companies. The plans are included within a white paper that also includes a call for the government to play a more active role in the development of blockchain within China.

Though the exact timing of the launch is not yet known, the unveiling nonetheless represents Tencent's most direct move in the blockchain space to date, according to CoinDesk.

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