Tencent Domination in Blockchain Patents

Judy Rubio

Tencent is a known tech giant located in China. The company consists of many partners and involves several countries. It has been functioning for the past twenty-two years and has gained plenty of experience. At the moment, this conglomerate is regarded as the strongest across the country. Its main mission is to provide products and services related to the Internet. They also offer products for the entertainment industry and artificial intelligence. What they do has crossed many borders and is now present in many countries outside China.

Being the largest video game firm in the world makes the entire company even stronger and more influential. It’s the most valuable conglomerate and largest company dealing with social media. Another fact is that Tencent is a huge investment corporation as well.

The company keeps growing and it has now increased its control – they take pride in the number of blockchain patents. Its representatives filed for fund management based on DLT. They are also ready to involve in advertising and claim that one of their targets is media storage solutions.

Tencent has always been interested in blockchain technologies. Now the team wishes to go deeper and start new research projects related to this sphere. They have registered several patents. And all of them detail solutions based on DLT and created for advertisement as well as fund management.

According to many Chinese media outlets, the mentioned patients were filed a couple of days ago. They have included consumer applications that focus on blockchain. More than that, there are systems aimed for media storage and, which is not less important, hardware devices.

All that the company does looks like a visible expansion over many areas. The spheres that the firm deals with involves AI, IoT as well as cloud computing.

Hundreds of Patents and New Filings

Tencent’s dominance is going to extend. Analysts believe that the number of blockchain patents the firm holds is massive, and yet it is increasing. The team has managed to amass more patents last year and their amount is greater than that of any other corporation. For example, in 2019 Tencent filed seven hundred and eighteen patents.

Blockchain experts announce that the company represents over twelve percent of all patents filed in 2019. As we know, Tencent employs and hires some of the strongest specialists and skilled professionals who are capable of generating new ideas and participate in numerous projects that will bring the entire company to even a greater level. This approach has helped the corporation become the leading player in the market.

Investments that the corporation makes in blockchain are heavy. The firm is likely to have invested seventy billion USD into the newest technologies by 2025. There are prioritized sectors and those are AI and cloud computing. Moreover, the company’s official representatives noted that the firm intends to build up a one-hundred-member blockchain alliance and are ready to do all this by the end of the year.

The company believes that this alliance will look appealing to tech companies. They do not deny that this may attract universities and various industry bodies. It seems they are ready to find the right people to collaborate with and help them research DLT applications. As a result, their company will be the one that establishes new rules and sets different industry standards.