Tencent, the operator of Chinese social media app WeChat, is planning to create a digital currency enquiry group for the farther advancement of blockchain technology enquiry projects.

On Dec. 23, Chinese media outlet iFeng reported that the Chinese internet behemothic released a argument to its employees maxim that the company is currently on the spotter for the new head of the research group.

The yethoped-for-established digital currency inquiry group will reportedly focus on Tencent'due south further advancement in the digital payment industry by utilizing blockchain technology.

Cointelegraph contacted Tencent regarding these latest developments but had however to receive a response as of press fourth dimension. This article volition be updated if new comments come in.

Blockchain diamonds for sale on WeChat

Just recently, Tencent announced a new partnership with the earth's largest diamond mining firm, Russia'due south Alrosa, and blockchain platform Everledger, to launch a new diamond-focused retail mini-program aimed at WeChat's one billion active users.

The collaboration between the iii companies aims to improve transparency and consumer trust across the diamond supply chain, enabling social media users to purchase diamonds with full cognition of their origin, characteristics and ownership history.

Shenzhen's blockchain invoice system developed past Tencent

At the beginning of November, Shenzhen's tax service reported that over 10 million blockchain-based invoices had been issued in the Chinese tech uppercase and that it volition continue to actively promote blockchain-enabled electronic billing. Shenzhen'south blockchain invoice system was developed by Tencent.

Over 7,600 companies have already used the blockchain-based invoice system, comprising a full value of close to $1 billion. The blockchain invoicing service has been applied thusfar in local finance, insurance, retail, hotel catering and parking services.