Chinese internet giant Tencent has filed several new patent applications related to blockchain. Companyplans to patent fund management and advertising solutions.
As Egsea reports, in addition to decisions onfund management and advertising, Tencent plans to patent blockchain-based consumer applications, hardware devices and media storage systems. The new patent filings add to Tencent's extensive list of previous attempts to patent blockchain solutions.
In April, China Banking News reported thatTencent filed 718 patent applications in 2019 — more than any other company. According to the report, 5,800 blockchain-related patent applications were filed worldwide last year, with Tencent's filings accounting for 12.4% of the total.
Other Chinese companies are also actively patenting blockchain solutions. A year ago, it was reported that Chinese giant JD.com had filed more than 200 applications for blockchain-related patents.
At the same time, Tencent is actively investing in newtechnology and blockchain. In April, it became known that the company plans to invest $70 billion over five years in the development of new technologies, including blockchain. That same month, Tencent announced the launch of an accelerator for blockchain companies, with plans to help 30 firms develop blockchain-based solutions.
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