Keda Group to Establish Blockchain Unit for Internet Marketing
Dou Shicong
DATE:  Mar 20 2018
/ SOURCE:  Yicai
Keda Group to Establish Blockchain Unit for Internet Marketing Keda Group to Establish Blockchain Unit for Internet Marketing

(Yicai Global) March 20 -- Chinese real estate and media firm Keda Group Co. will branch out into blockchain with the establishment of a CNY20 million (USD3.16 million) unit to explore the use of the cutting-edge technology in internet marketing.

The Shandong-based company's board approved the setup of Beijing Keda Zhonglian Blockchain Technology Co. and will assemble a group of experts to carry out research, it said in a statement.

Blockchain, a digital ledger which holds public records of transactions, is best known for its role in cryptocurrencies but has a wide array of uses. Despite shutting down local virtual currency exchanges, China is keen to press on with blockchain development and included the sector in a national strategy document as part of its 13th five-year plan in 2016.

The new unit will also look to introduce a blockchain-based media platform, combining content-editing and We Media resources to help the company expand in overseas markets.

We Media is a Chinese term used to describe self-created media content published on any of the country's vast array of electronic media platforms such as WeChat and Weibo, as well as blogs and other online communities.

Keda Group plans to separately work with the Shanghai unit of Switzerland's JRR Capital Consultants to establish a CNY60 million blockchain industry fund focused on related technology companies. Keda will contribute CNY50 million to the fund.

Established in 1984, Keda Group initially focused on infrastructure construction and real estate development before moving into the internet marketing sector with the acquisition of a number of media companies such as Beijing iForce Interactive Co. and UNI Communication Group Co. in 2015. 

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Keywords:   Keda Group,BLOCKCHAIN,Internet Marketing,JRR Capital