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Chinese internet giant Tencent is launching Blockchain Accelerator

April 30, 2020

Tencent, the operator of the Chinese social media app WeChat, is introducing a blockchain accelerator.

On the company’s website announced on April 29, the “Tencent Industrial Accelerator” is open to both early-stage startups and mature blockchain startups, with a total of 30 seats available.

To qualify Projects must have completed at least one round of financing. Applications can be submitted until June 6th.

What does the accelerator offer?

Chinese internet giant Tencent is launching Blockchain AcceleratorChinese internet giant Tencent is launching Blockchain Accelerator

Tencent’s blockchain accelerator It will focus on a variety of recruitment areas, including industrial blockchain solutions and blockchain applications for data exchange, supply chain financing, and digital asset transactions.

Other areas of recruitment will focus on blockchain for sectors such as government, energy, education, logistics, manufacturing, agriculture, and the common good.

Selected applicants receive four mentoring meetings throughout the year, a variety of networking opportunities for companies and industries, and access to the blockchain platform as a service from Tencent. You will also have the opportunity to travel abroad related to your area of ​​interest in the blockchain industry.

The isolated development areas of interest to Tencent include intelligent contract security, trustworthy identity and IT solutions, multi-party governance mechanisms, and consensus algorithms.

The selected projects will be announced for a second evaluation round at the end of June. The cost per person to participate in the accelerator is 100,000 RMB, just over USD 14,000.

The national scope of Tencent’s blockchain development

As recently reported, Tencent’s Digital Bank, WeBank has announced plans to integrate the Smart Contract Digital Language Modeling Language for the blockchain consortium “FISCO BCOS”, the chain that will support China’s national blockchain-based services (BSN) network.

The BSN was launched for commercial use earlier this month, six months after it first started testing.

Together with WeBank, Tencent Cloud, Huawei and Shenzhen Securities Communication, they found members of the FISCO BCOS blockchain platform.

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