Tencent Sets Eyes on Digital Currency Research Group
Tencent is going to create a digital currency research group to support the development of a digital payment sector by using blockchain technology.
Tencent is going to create a digital currency research group to support the development of a digital payment sector by using blockchain technology.
China apparently has a couple of blockchain projects which once fully implemented will leave the rest of the world in the dust.
A devoted team of the PBOC’s Digital Currency Research Lab is currently setting up its digital currency system in a restricted environment aiming to launch it before Facebook’s Libra enters the market.
People’s Bank of China is said to be preparing for issuing its own cryptocurrency in the coming days. According to sources, the first beneficiaries of China’s CB/DC are Alibaba, Tencent, Union Pay, and others.
China UnionPay, one of the major players in China, attempts to patent a blockchain-related technology for connecting a network of ATMs.