On the 10th of September at the Internet of Things exhibition in China, the biggest telecommunication company Tencent and Intel announced a joint project based on the blockchain technology.
The companies will develop different applications for support the work of TUSI (Tencent users security infrastructure) Internet of Things laboratory.
Internet of things (IoT) is a combined system of devices inside, let’s say, your apartment. Let’s imagine you have left your house and you don’t remember whether you switched off the stove, the iron, the television, the computer and so on. You take your smartphone out of your pocket and it shows you what is going on in your apartment. Actually we can say that Internet of things has become a part of someone’s life together with smart homes. But it’s the future!
According to the vice president of Tencent Mobile Internet Group Wu Yu, there is an increasing adoption of IoT technology worldwide and they want to take advantage of this growth. He added that Intel’s technology will be used to resolve issues the company is facing. Intel will provide with the major part of software and other systems critical for users security. According to the vice president and general: “Intel is committed to providing privacy protection, security and scalable technology, and by working with Tencent on Blockchain technology, the prospects will be exciting.”
In parallel Tencent is working on another blockchain project. Recently the firm invested 50 million dollars into a messenger of the canadian company Kik. The company plans to introduce cryptocurrencies in everyday’s life with the assistance of this messenger.