Tencent Launches Blockchain Accelerator

Chinese Tencent, one of the world’s biggest tech conglomerates, is launching its blockchain accelerator and opens first phase applications.

The blockchain accelerator is a part of Tencent’s Industrial Accelerator program and is looking for 30 participants developing blockchain-based technologies.

According to the document, the multi-dimensional service platform is based on technology, scenarios and business opportunities. It seeks to integrate global blockchain industry resources and link blockchain companies to jointly promote innovation of blockchain technology.

Announced on April 29th Tencent blockchain accelerator is open to both early-stage and mature blockchain startups. All applicants are allowed to fill their application forms until July 6th.

Directions of blockchain accelerator

Tencent’s blockchain accelerator will focus on three main recruitment directions, such as providing industrial blockchain solutions, infrastructure and peripheral service like security integration.

Participants will look for blockchain solutions and products for various industries, governmental institutions as well as for applications, including data sharing, supply chain finance, digital asset transactions or electronic bills.

Second recruitment direction targets blockchain infrastructure providers to create underlying
blockchain platform, including supporting algorithms. Direction also focuses on public blockchain infrastructure developers to work around blockchain service platforms (BaaS).

The last direction aims to find developers for industrial blockchain peripheral parties, such as blockchain security and supporting facilities service providers.

Selected applicants will get benefits including four mentoring meetings per year, the opportunity to have industrial-depth interviews overseas as well as the free one-year access to Tencent’s enterprise-level business platform TBaaS.

According to the company, the list of selected candidates will be announced till the end of June. The projects then will be allowed to enter a second round. The program tuition fee is 100,000 RMB (around $141,100) per person.

Tencent is one of the most active players in China’s blockchain ecosystem. Tech giant has filed over 700 applications last year, more than 470 of another Chinese multinational conglomerate Alibaba. The company became a member of newly formed China’s National Blockchain Committee this year, together with Baidu, Huawei, Alibaba and the University of Beijing.

The committee aims to set national standards for the blockchain technology adoption, which is especially relevant now, when China just launched its massive Blockchain Service Network (BSN).

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