With insights from local news outlet 36kr.com, Chinese technology conglomerate Tencent received a novel patent for a blockchain-oriented missing person’s poster. In December, 2019, the patent took close to three years to be awarded from the date of its first submission, as stated by Cointelegraph.
According to Cointelegraph, the patent needs a data generation request on account of a person going missing, which then gets unveiled publicly on the blockchain for verification. With consensus getting reached upon request, storage then takes place in public ledger and gets forwarded to nodes for broadcasting purposes to an extended audience. Through the patent application, Tencent mentioned about how the design needs improvement in the ability to look for missing people.
On the basis of data by Cointelegraph, Tencent has experimented on blockchain with technology firms with regard to possibilities for merging with payment applications, although China’s take on regulations around cryptocurrency. Yet, its FISCO BCOS coinless blockchain, developed in collaboration with Chinese telecom company Huawei in 2018, was built for establishing decentralised applications.
Moreover, Cointelegraph mentioned that China aims to have a centralised take towards blockchain, with policies backing its digital-yuan (eCNY) central bank digital currency (CBDC) over digital tokens created by private firms. In recent developments, the country launched its first-ever eCNY-oriented social security card, to allow welfare deposition directly into the recipient’s account in the digital yuan for spending.
Going by Cointelegraph’s official website, it is an independent digital media resource covering a wide range of news on blockchain, cryptocurrency assets, and emerging financial technology (fintech) trends. They aim to deliver news from both the decentralised and centralised sectors. Their editorial content aims to deliver news, analytics, cryptocurrency price charts, opinion pieces, as well as reports on the transformation that digital currencies bring. They believe that decentralisation will grow and become part of everybody’s daily lives.
(With insights from Cointelegraph)
Also Read: Anthony Scaramucci on Bitcoin’s potential to have one billion wallets