Corporate Blockchains- China’s Crypto Giants and Their Blockchain Innovations Overtime
When we first started GlobalCoinResearch.com, one of the most widely read piece was our post on China’s True Crypto Giants- Tencent, Baidu, Alibaba
In light of the increasing corporate involvements in blockchain in the media such as Facebook, Square, while also seeing that Twitter and Apple are exploring blockchain use cases, we decided to revisit the blockchain innovations from the tech conglomerates in China.
While Facebook may have 50 people working on
Below is a timeline highlighting the largest tech conglomerates in China that are involved in
We’ve also translated a chart from
In 2016, many of the conglomerates were focusing on using blockchain to transform traditional finance, and overtime in the last year, the focus seems to be shifted to experimenting with gaming, building protocols, with some scattered focus around copyrights, and data preservation in the legal and health care industry.
Over the last number of years, we’ve monitored these large conglomerates and their blockchain developments. Quietly, these companies are building the forefront of China’s permission and permissionless blockchains in industries such as finance, gaming, supply chain, etc, and that could potentially extend to beyond China and spill into the rest of Asia and beyond.
Note: all the links highlighted below traces back to announcement sources and are mostly if not all in Chinese
Quick bio: Founded in 1999, Alibaba is a Chinese multinational conglomerate specializing in e-commerce, retail, Internet
2016.07 Ant Financial Service applies blockchain technology to Alipay’s Love Donation Platform, a philanthropy platform.
2016.10 Ali cooperates with Microsoft,
2017.03 Based on the public welfare project launched in July 2016, Alipay’s Love Donation Platform introduces its blockchain technology and
2017.08 Alibaba Health and the city of Jiangsu Changzhou cooperate to launch “Medical Link + Blockchain” pilot project.
2017.10 Ant Financial discloses its “BASIC” strategy, with which
2017.10 Ant Financial Technology Lab to explore blockchain technology for traceability of imported food to ensure food safety.
2017.11 Alibaba and Ant Financial announce to undertake the construction of China’s Xiong’an New District’s blockchain infrastructure.
2018.01 China’s Xiong’an New District to build its rental application platform through Ant Financial’s blockchain.
2018.02 Alibaba’s Tmall International adopts blockchain technology to track the information of cross-border imported goods.
2018.08 Alibaba Cloud introduces Blockchain as a Service (BaaS), which supports a one-click deployment of blockchain environment to realize blockchain application across enterprises. It will be used for supply chain traceability and supply chain finance, data asset transactions, digital content copyright protection
Quick bio: Founded in 1998, Tencent is a Chinese multinational investment holding conglomerate, whose subsidiaries
2016.05 Tecent helps establish the Financial Blockchain Cooperation Alliance in Shenzhen.
2016.09 Weizhong Bank and Shanghai Huarui Bank announce the joint commissioning of
2017.01 Tencent Micro Gold platform officially launches, which enables individuals to
2017.04 Tencent releases its blockchain whitepaper.
2017.04 Tencent releases “public interest trace chain”, which connects data of multiple data platforms to achieve information sharing among various public welfare platforms.
2017.06 Tencent collaborates with Industrial and Commercial Bank of China on the Micro-Gold platform.
2017.06 Tencent and Bank of China jointly
2017.08 Tencent announces its own blockchain platform TrustSQL, which aims provide all the tools necessary for developing Blockchain applications for businesses.
2017.09 Tencent and Intel announces to cooperat on blockchain identity certification.
2017.10 Tencent joins the Canadian Blockchain Institute.
2018.04 Tencent blockchain releases the first blockchain game “Catching Demons” (some of the features of the game are still being tested).
2018.04 Tencent announces “Tencent Blockchain + Supply Chain Financial Solution.”
2018.05 Tencent sets up a Tax Innovation l
2018.05 At the 2018 China “Internet +” Digital Economy Summit, Tencent says that it is using blockchain technology to work with hospitals to create prescriptions and is considering promoting this technology externally.
2018.06 Tencent launches its mini app- “Financial Risk Inquiry Reporting Center”. The mini-app mainly exposes pyramid schemes and virtual currency pyramid schemes.
Quick Bio: Incorporated in 2000, Baidu has the 2nd largest search engine in the world, and holds a 77% market share in China’s search engine market.
2017.05 Baidu Finance along with Huaneng Trust and other partners jointly issues an asset-backed securit on a blockchain. This ABS has been approved by the Shanghai Stock Exchange, with a total issued size of 400 million yuan.
2017.09 Baidu reveals the “Baidu-Chang’an Xinsheng-Tianfeng 2017 First Asset Support Special Plan”, showcasing the first exchange-based ABS based on blockchain technology in China.
2017.10 Baidu Finance officially joins the Hyperledger open source project and becomes a member of the board.
2018.01 Baidu launches an open platform BaaS, which mainly helps enterprise alliances to build their own blockchain network platform.
2018.02 Baidu launches “Baidu Leitz Dog”, a copycat of Cryptokitties.
2018.04 Baidu launches an image copyright application called “Baidu Totem” using blockchain technology, which generates copyright for each original image.
2018.04 Baidu, Softbank Ventures Korea
2018.06 Baidu releases blockchaingame “Universe”.
2019.08 Baidu launches health blockchain
Jingdong (also known as JD.com)
Quick bio: JD.com is a Chinese e-commerce company, and the world’s leading company in high tech and AI delivery through drones, autonomous technology
2016.05 Jingdong Finance joins China’s “Financial Blockchain Cooperation Alliance”.
2017.06 JD announces the establishment of the “Jingdong Quality Traceability Anti-Counterfeiting Alliance”.
2017.12 JD establishes China’s first safety food blockchain traceability alliance.
2018.02 JD Logistics officially joins the Global Blockchain Freight Alliance (
2018.03 JD launches the “AI Catapult Accelerator” (AICA) to support startup companies to apply blockchain technology.
2018.03 JD releases “Jingdong Blockchain White Paper (March 2018)”.
2018.03 JD Finance and nearly 30 commercial banks jointly establish the “Commercial Bank Retail Credit Union”.
2018.04 Public company BOE reveals that JD is building a cross-border e-commerce platform using blockchain technology to achieve “full traceability”.
2018.05 JD releases blockchain mini app “Hash Manor”, but has since taken it offline.
2017.06 JD establishes an alliance with involved parties participating in the upgrade of its ABS cloud platform.
2018.07 Jingdong “Smart Life” mini-app officially launched WeChat, using blockchain technology to trace the delivery process of purchased items.
Quick bio: Xunlei is a Chinese multinational technology company and an online service provider founded in 2003. It’s main products developed by Xunlei Limited is the Xunlei download manager and Peer-to-peer software, supporting HTTP, FTP, eDonkey, and BitTorrent protocols
2018.05 Xunlei releases the open-source Xunlei “Thunder” chain.
2018.07 Xunlei releases its self-developed Xunlei “Thunder” Chain File System (TCFS).
2018.07 Xunlei officially joins the Linux Foundation’s Hyperledger project.
Quick bio: Xiaomi is a Chinese electronics company headquartered in Beijing. Xiaomi makes and invests in smartphones, mobile apps, laptops, and related consumer electronics.
2018.03 Xiaomi launches the blockchain game “Encrypt Rabbit”.
2018.04 Xiaomi launches the Xiaomi WiFi chain, a small gaming application based on
2018.07 Xiaomi introduces “rice grain” as cryptocurrency on blockchain to reward Xiaomi users. The “rice grain” can be used for consumption and exchange. Users can log in daily, share its WiFi network, connect to new IoT (Internet of Things) devices, experience Xiaomi products, invite friends. to get “rice”.
Quick Bio: Netease is Chinese Internet technology company providing online services centered on content, community, communications and commerce. The company develops and operates online PC and mobile games, advertising services, email services and e-commerce platforms in China.
2018.02 Netease Finance launches “Netease Planet”, a
2018.04 “Netease Planet” adds mining functioninto app.