Tencent bet blockchain

At the beginning of last year, I concentrated on interviewing dozens of small and medium-sized teams in the blockchain. During the deep chat, I asked the CEOs the same question.

“Are you worried that BAT and the Internet giant are doing the same thing as you? After all, they are holding money, resources and talent.”

At that time, the first-line Internet companies represented by Tencent, like the beasts hiding in the jungle waiting for prey, have not yet demonstrated their strong physique and ambitions in the blockchain.

At that time, nearly half of the CEOs gave similar answers. They believed that the centralized giant could not do decentralized or weakly centralized things. Even if they did, they would use their own spears to attack their own shields and make their own lives. Will not succeed.

One year has passed, and the answer given by reality is not the case.

In March of this year, Cai Yunge, general manager of the blockchain of Tencent, said in his speech: "No matter black cats and white cats, it is a good cat to catch a mouse."

This sentence first came from the mouth of Deng Xiaoping, and the time was stuck in the beginning of China's reform and opening up and economic take-off.

Perhaps for these giants who are "people to middle age" and other first-line Internet companies, it is not important to lay out the blockchain. What is important? The important thing is to find “not old medicine”, always seize the trend and always “young”.

The same is true of life choices.

1. Focus on To B

Now that Tencent has been talked about, the author simply talks about Tencent's exploration in the blockchain field. The routines of the big factories are similar.

For the first time, the Tencent blockchain attracted widespread public attention and began in August 2018.

On August 10, 2018, under the guidance of the State Administration of Taxation, the Shenzhen Taxation Bureau (to undertake the pilot) joined hands with Tencent (providing the underlying technology) and opened the nation's first blockchain electronic invoice at Guomao Rotary Restaurant. This event instantly brushed up the circle of friends, but also boarded the microblogging hot search.

Why is this thing so interesting? Because it is related to all companies, even everyone. It indicates that China's tax service has officially opened the blockchain era.

Since then, the application of blockchain electronic invoicing continues to expand. On November 1, 2018, the first blockchain electronic invoice in the financial services sector was opened at China Merchants Bank. On March 18 this year, the country's first rail transit blockchain electronic invoice was opened at the Shenzhen Metro Futian Station. In the future, users can use the subway, bus, and taxi in Shenzhen to issue block invoices.

According to the data provided by Tencent, the blockchain invoice has been on the line from the end of last year to the end of March this year. It has accumulated 1.5 million invoices, with a total amount of 1.5 billion, and more than 1,500 registered enterprises. Wal-Mart Shenzhen stores have been fully accessed.

Although it was only in 2018 that the blockchain of Tencent was a blockbuster, in fact, Tencent established a blockchain team as early as 2015. Cai Yuge, an old employee who graduated from Nanjing University in computer science and entered Tencent in 2004, is a master of internal training. In 2016, the team began to develop the underlying technology of the blockchain.

In August 2016, Tencent publicly stated that Tencent Financial Cloud is actively exploring blockchain technology. However, during this period, Tencent did not pay special attention to the blockchain of Tencent. Until 2017, the world entered the “blockchain economy era”, and the overall R&D promotion progress of the blockchain in Tencent began to accelerate.

In April 2017, Tencent officially released a white paper on the blockchain program. The white paper stated: Based on the concept of “open sharing”, Tencent will build blockchain infrastructure and open up internal capabilities to share with partners to promote credibility. The development of the Internet has created a win-win ecosystem for the blockchain.

In November 2017, Tencent Blockchain launched a new blockchain BaaS cloud service platform. Users can better build a stable and convenient blockchain application with the mature architecture of cloud and high-quality services of financial cloud. Future BaaS The platform will also provide more plug-in services that combine the advantages of big data and credit information.

It is not difficult to see from the above incidents that, as of the end of 2017, in addition to the “public interest tracing chain” constructed in May 2017, the value of the blockchain in Tencent is mainly the extension of the To B business, which is positioned as an enterprise-level block. Chain based service platform. The field of application is also mainly around financial.

Of course, a small business category does not mean poor grades. In the BaaS field competitiveness ranking list released by the authoritative industry analysis agency ABI Research in November 2018, Tencent Cloud TBaaS won the first place in China's blockchain market. The ranking covers 11 global BaaS service providers such as Tencent, Microsoft, Amazon, Cisco, HPE, IBM, Oracle, and SAP.

2, blooming everywhere

By the beginning of 2018, the blockchain of Tencent had finally changed its single style of play. On the basis of focusing on the supply chain financial solutions, we began to enter the stage of “spreading everywhere”.

The supply chain financial solution mentioned above refers to the core enterprise's accounts receivable as the underlying assets, and the circulation of the creditor's rights certificate is realized through the Tencent blockchain technology to ensure that the relevant information cannot be falsified and cannot be re-financed. It is traced back to help relevant parties form cooperative innovation in the field of supply chain finance. The micro-enterprise chain is the representative product of this business.

In April 2018, Ma Huateng said in the 2018 China “Internet +” Digital Economy Summit that Tencent had achieved the nation’s first “external prescription transfer” service in Liuzhou, Guangxi, prescribing prescriptions and purchasing medicines outside the hospital. Because the prescription circulation involves many links such as the planning committee, the hospital, and the pharmaceutical company, the Tengxun blockchain uses the blockchain technology to achieve the prescription without being tampered with. This is the first attempt of the Tencent blockchain medical scene.

In addition to the layout of the medical field, in April of the same year, in the UP2018 Tencent New Cultural Innovation Conference, Tencent also released the first AR-based hand-cranked mobile game based on the Tencent blockchain technology – "to catch the demon together", at this point, Tencent The blockchain officially began in the game scene.

So far, the blockchain of Tencent has landed in the blockchain electronic invoice, public welfare, supply chain finance, games, medical, electronic deposits, or the implementation of the scene.

In Cai Yige's view, the development of technology is spiral, technology takes a step forward, the scene keeps up, can promote technology upgrade, and then emerge more scenes, thus achieving the prosperity of the industry; away from the scene, talk about performance, It’s not reasonable to be safe, go to the center, or just talk about the scene without talking about technology.

“The future of the Tencent blockchain will continue to be rooted in the scene, grow together with the scene, and strive to continue to deepen the grounding scene, drive the scene, solve the actual pain points, and promote technology upgrades.”

3, traits

The advantages of the first-line Internet companies advancing into the blockchain are mainly in the three aspects of technology, security, and scenario landing.

Take the Tencent blockchain. In terms of technology, from the perspective of the number of patents, according to the data of the 2018 State Intellectual Property Office, the number of patents of Tencent and Weizhong Bank (established by Tencent) totaled 47.

In terms of security, Tencent Blockchain won the first place in the 2018 trusted blockchain standard evaluation product. On March 30, 2019, in the first batch of domestic blockchain information service filing list of the network office cloth, the Tencent blockchain and Tencent Cloud TBaas blockchain service platform also obtained the record number.

In terms of scene landing, relying on the endorsement of the big factory, as well as the existing resources, the first-line Internet companies are more likely to find partners and land together.

So where is the vitality of SMEs? The author believes that when fighting innovation and speed.

“The world’s martial arts are not broken” is still applicable in the field of blockchain. Just in the fast process, you have to "hidden" well.

Text / seventh stroke

© This is CoinVoice's premium original content. CoinVoice is the leading global blockchain media, focusing on original, deep and high-quality blockchain content, and is committed to linking blockchain innovators around the world.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Bitcoin, Ethereum, Solana, Binance Coin, XRP, Cardano, Avalanche, Dogecoin, Chainlink, Polkadot price analysis for 2/16

Bitcoin's strong upward momentum may encounter resistance around $52,000, but any potential decrease is expected to b...


Why does the US SEC, which has clearly classified more than a dozen tokens as securities, continue to avoid addressing the status of ETH?

As an intermediary for daily transactions and investment tools, L1 tokens need clear regulation, which is not only be...


Cardano’s Price: Falling Like a Tripped Bull

ADA's value drops as traders take profit amid steep rise and in anticipation of Federal Reserve's rate decision.


The Drama Behind Bitcoin ETF Approval: What You Need to Know

Although the spot Bitcoin ETF decision may potentially result in a sell the news situation, alternative cryptocurrenc...


Is CoinDesk selling at a loss with a valuation of $125 million after being in business for ten years?

On the occasion of its tenth anniversary and after being held by DCG Group for eight years, CoinDesk, the cryptocurre...


Analysis and Commentary: The Fate of Bitcoin ETFs and Cryptocurrency Performance

After a period of significant growth in the crypto market, traders were briefly shaken by a report causing a halt in ...