Chinese Tencent to Invest $70 billion in ‘new infrastructure’ Including Blockcha

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Chinese Tencent to Invest $70 billion in ‘new infrastructure’ Including Blockchain Development






One of the biggest telecom providers in China (and the company behind WeChat) wants to invest in the development of blockchain-based banking as they already got necessary approval from the regulators.

Per a Finance Magnates report, Tencent senior executive vice president Dowson Tong shared company plans with the Chinese press. Tong says Tencent will pledge 70 billion into the Artificial Intelligence, Cloud Computing, and Cybersecurity infrastructure. But what’s more interesting, they are going to send undisclosed part of that sum into the Blockchain sector as well. The company representative didn’t specify what companies will receive funding and what products they intend to create.

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