Chinese internet company Tencent is constructing blockchain services.
The firm, which has already made services like QQ and WeChat, is building the system for “shared economies,” among other reasons and is known as “TrustSQL.”
Tencent said that it would leverage its technological resources and sees it as a way to work with other firms.
Tencent published a white paper that delineated its plans and called on the Chinese government to play an even greater role in the Internet.
The involvement of government in the development and regulation of block chains is necessary and should encourage in-depth research on blockchain technology and block-chain applications.”
China already plays a very big role in the Chinese Internet and basically sorts through services to see what will go up and what won’t. Now there are calls for China to involve itself directly in the regulation of blockchain.
What China cannot do is prevent people from using such services on a peer to peer basis. It’s ultimate lack of control over the Internet will likely become an increased problem as time goes on.