Tencent Cloud wants to set up new blockchain alliance

Fibo Quantum

The cloud computing arm of China’s Tencent is to create a new blockchain alliance, in a bid to bring together 100 organizations to collaborate on blockchain projects.

Known as the Industry Blockchain League, the alliance is set to be founded this year, and will draw on companies, government agencies and other organizations from across industry sectors.

The group will work to establish a set of standards and procedures for implementations of the technology, as part of a drive to accelerate the adoption of blockchain tech.

According to reports, the group will meet in three parts—a technical committee, a commercial ecosystem committee and a committee to look specifically at blockchain standards.

The standards committee will focus on working with regulators, as well as with companies in the space to develop better standards for regulation and development. Their counterparts on the technology committee will work on planning and creating new platforms powered by blockchain.

The alliance is set to recruit as many as 100 members this year alone, with plans to continue to expand to involve as many partners as possible working towards the group’s common goal.

The move is the latest of several recent steps towards blockchain tech by the company in recent weeks, part of efforts to encourage greater use of the technology.

At the end of April, Tencent announced a new blockchain accelerator program to support innovations in the sector, coinciding with the launch of a new blockchain platform in Anhui, China, which was launched to deliver government services.

Similarly, the Chinese government is known to be actively working on a large number of blockchain projects. Despite opposition to digital currency, the authorities have come out strongly in support of blockchain technology for government and commercial applications.

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