Tencent expands its domain in blockchain patents

The new impulse comes after demanding DLT-based media management, advertising and fund management solutions

Chinese tech giant Tencent continues to expand its research into popular blockchain technology and the company has since registered numerous patents detailing solutions based on Distributed Ledger Technology (DLT) for fund management and advertising.

The information was released on June 18 through the Asian local outlet Egsea, where it was specified that the requests also included consumer applications based on blockchain, hardware devices and media storage systems.

The recent records come after blockchain consolidated a growing business adoption in the areas of cloud, artificial intelligence, and the Internet of Things (IO).

Patents continue to increase

According to data supplied by the source, by 2019 Tencent had accumulated more patents than any other company, making the request for 718 only during the last year, thus representing 12.4% of the patents filed in 2019.

The company’s expectations for the coming years will be to invest USD 70,000 million in emerging technologies over the next five years and it is expected that in the course of this year it will establish a 100-member blockchain alliance among which the following stand out: universities, think-tanks, technology companies, and industry bodies to research IoT applications.


Source: cointelegraph

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