Chinese Internet Giant Tencent: Plans to Create Digital Currency Research Group.

Tencent, the operator of the Chinese social media app WeChat, plans to set up a research group. On digital currency to further promote blockchain research projects in technology.

Chinese media outlet iFeng announced on Dec. 23 that the Chinese Internet giant released a statement to its workers. Says the company is currently looking for the research group’s new head. The digital currency research group, which is yet to be formed. Will reportedly concentrate on the further advancement of Tencent in the digital payment industry through the use of blockchain technology.

Blockchain diamonds for sale on WeChat

Tencent recently announced a new collaboration with the world’s largest diamond mining company, Russia’s Alrosa, and Everledger blockchain network. To launch a new diamond-focused retail mini-program targeted at WeChat’s one billion active users.

The partnership between the three companies is aimed at improving transparency and consumer confidence across the diamond supply chain. Allowing social media users to buy diamonds with full knowledge of their origin, characteristics, and ownership history.

Shenzhen’s blockchain invoice system developed by Tencent

At the beginning of November, Shenzhen’s tax service announced that the Chinese tech capital had provided over 10 million blockchain-based invoices. That it would continue to actively promote blockchain-enabled electronic billing. Tencent developed the blockchain invoice framework for Shenzhen.

The blockchain-based invoice system has already been used by more than 7,600 companies, with a total value of close to $1 billion. To date, the blockchain invoicing service has been used in local finance, insurance, retail, hotel catering, and parking.


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