Chinese tech giant Tencent launches blockchain accelerator program

advertisement

Chinese tech giant Tencent has launched a blockchain accelerator, and it plans to mentor 30 companies developing blockchain-based technologies and services.

Called Tencent Industrial Accelerator, the program has now begun taking applications, according to the company's website. Interested projects have until June 6 to apply. 

The accelerator is open to both early-stage blockchain startups and established companies looking to pivot to blockchain technology. But a project needs to have already completed at least one round of funding to be eligible. 

Tencent said that selected projects will get a number of benefits, including four mentoring meetings per year, the opportunity to learn about the industry overseas, and a valuable new network of industry peers. They will also gain one year of free access to Tencent’s blockchain-as-a-service platform. The cost of the program is 100,000 RMB (about $14,120) per person.

Tencent has been at the forefront of blockchain technology development in China. According to research by The Block, Tencent filed the most blockchain patent applications last year – 718 out of over 5,800 in total –  followed by Alibaba, which filed 470. The company was also included in China’s national blockchain committee announced earlier this month, joining other prominent members Baidu, Huawei, and Peking University.

Correction: This report has been updated to correctly reflect the dollar amount and the total number of blockchain patents filed by Tencent. 

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Will Sanctions Drive Russia into the Arms of Cryptocurrencies?

From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More