Tencent Launches Blockchain Accelerator Program
- Only projects that have gone through one funding round will be eligible to apply.
- Projects that are chosen will receive a number of benefits, such as a one year free access to Tencent’s blockchain-as-a-service platform.
Tencent office building. The Register
Tencent, the Chinese tech giant and operator of WeChat, is planning to mentor 30 companies through its new blockchain accelerator, the company said on its website on 29 April.
According to the announcement, the “Tencent Industrial Accelerator” is already opened to applications, with a total of 30 places available. Projects interested in the accelerator have until the 6th of June to apply. Tencent’s new venture is open to both early-stage and already established blockchain startups, though in order to be eligible, projects need to have gone through at least one funding round.
The tech giant is also looking to recruit projects from a variety of sectors, such as industrial blockchain solutions, blockchain applications for data sharing, supply chain financing and digital asset transactions. Blockchain projects that are focused on government affairs, energy, education, logistics, manufacturing, agriculture and public welfare will also be welcomed.
Successful applicants will receive a number of benefits, such as four mentoring meetings per year, industry networking and business opportunities, and the opportunity to make overseas trips connected to their chosen blockchain industry. In addition, the projects will have a one year of free access to Tencent’s blockchain-as-a-service platform. The cost of the program will be 100,000 RMB per person, which is roughly $14,000.
Last month, Tencent became one of a few companies to be included in China’s “National Blockchain and Distributed Ledger Technology Standardisation Technical Committee”. Other members of the committee include executives from notable companies and universities, such as Baidu, Tencent, Huawei, Peking University, Tsinghua University, Fudan University, and others.
- The head of China’s central bank digital currency institute said the e-CNY has undergone a major upgrade, and should be made available as an option in all retail scenarios.
- The PBOC official noted that platforms can integrate the CBDC in the short term using QR codes, and focus on upgrading their payment tools in the long run.
Office building of the People’s Bank of China. Flickr
- The team behind Multichain confirmed that their CEO was detained in China on 21 May, and that all of his electronic devices were confiscated by the local police.
- The CEO’s sister moved the project’s remaining funds to wallets under her control on 9 July, and several days later was also detained by the police, leaving the team with no funds.
- A new 13-count superseding indictment has accused Sam Bankman Fried of bribing one or more Chinese officials in order to unfreeze accounts connected to Alameda.
- In early 2021, Chinese authorities froze certain Alameda accounts on two of China’s largest crypto exchanges”, which reportedly held more than $1 billion worth of crypto assets.