Tencent, blockchain and fintech: the Chinese conglomerate with a turnover of more than 230 billion dollars, has announced the creation of their own division Tencent Financial Technology.
This division will launch a supply chain financial solution to support small businesses that, according to manager Aaron Cai, “will empower medium and small-sized enterprises, helping them to get out of the financing predicament“.
Tencent is working with Linklogis to build a secure and credible solution that allows members of a supply chain to fund their transactions directly via mobile. This type of operation, if successfully implemented, could increase the reliability of the entire chain.
Ju Kun, Director of Linklogis, explained:
“Different from the traditional supply chain finance, the new platform incorporating blockchain could spread a core enterprise’s good credit to each level of the industrial chain, which is extremely beneficial for small and middle-sized enterprises”.
Tencent, blockchain and fintech: what does the future hold?
In this respect, Tencent is revolutionizing their entire B2B service structure, trying to develop a new structure that should guide the company for the next 20 years.
Currently, the company is undergoing a major reorganization to change their B2C predisposition to B2B, a change so profound that has been defined by their own managers as a real genetic mutation.
In this perspective, for Tencent, blockchain and fintech become central and will put the giant on a collision course with the other big name in the industry: Alibaba.
