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14 August 2020

Tencent Is Pouring $70B Into New Tech Including Blockchain - CoinDesk

Tencent Is Pouring $70B Into New Tech Including Blockchain - CoinDesk

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It isn’t clear how much of the $70 billion investment Tencent will ultimately set aside for blockchain, nor has it elaborated on what specifically it will be investing in.

Blockchain is a critical part of the country’s tech strategy, and the government hopes BSN will form the backbone infrastructure for services that leverage the technology all around the country.

With blockchain being a state-sanctioned technology in China, and with the infrastructure for a whole host of new services – the BSN – having already launched, it should really come as no surprise that Tencent has opted to set aside potentially billions of dollars for investment in the emerging technology.

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