Tencent has spent $ 70 billion to promote blockchain, and bring artificial intelligence and develop new technologies

Tencent Holdings aims to accelerate the development of blockchain technology across China, as part of a $ 70 billion allocation plan for the financial technology industry.

• Chinese tech giant Tencent Holdings will spend $ 70 billion (500 billion yuan) to develop financial technology, including blockchain, cloud computing and artificial intelligence (AI), within 5 years. next.

According to Reuters, on May 26, the company behind the giant messaging app WeChat is expected to increase the development of financial technology across the country, a move that follows support from the Chinese government. Quoc. to the recent blockchain.

Tencent wants to develop business services and will invest, among other things, into 5G networks, the Internet of Things (IoT) and large data centers.

• The Covid-19 pandemic has increased interest in blockchain in China
  The Chinese tech giant said the Covid-19 crisis was an important factor driving companies to develop cloud-based technology infrastructure.
• Tencent's new investment in blockchain technology is based on recent news of strategic moves to strengthen its presence in blockchain development in China.

This is also a worrying move when the giant will launch a new technology?

Reference source: newbitcoin.com