Tencent Holdings to strengthen Blockchain in China. Tencent Holdings aims to streblockchain technology development across China as part of a $70 billion investment in fintech.
Chinese tech giant Tencent Holdings will allocate nearly $70 billion (500B yuan) over the next five years in fintech development, including blockchain, cloud computing, and artificial intelligence (AI).
The company, which is behind the WeChat messaging app, hopes to strengthen the development of fintech across the country, following the recent embrace of blockchain by the Chinese government.
Tencent wants to expand to business services and will invest in 5G networks, Internet of Things (IoT) operating systems and large data centers, among others.
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