Tencent, Logistics Federation Team Up to Offer Blockchain Tracking
Liao Shumin
DATE:  Mar 21 2018
/ SOURCE:  Yicai
Tencent, Logistics Federation Team Up to Offer Blockchain Tracking Tencent, Logistics Federation Team Up to Offer Blockchain Tracking

(Yicai Global) March 21 -- China's largest tech firm Tencent Holdings Ltd. has teamed up with the China Federation of Logistics and Purchasing for the first time to offer blockchain and cloud services.

The pair penned a deal at the 2018 Global Logistics Technology Conference in Haikou on China's island province of Hainan, they announced during the event. The firms will combine their relevant strengths to push various technologies for automotive, e-commerce, cold chain, pharmaceutical and dangerous goods logistics to facilitate standardized operations.

Tencent and the federation will also look to upgrade other areas in the logistics sector, such as software, financing and insurance, and develop tracking mechanisms and transport and warehouse management systems, they said.

Blockchain, a digital ledger which holds public records of transactions, is best known for its role in cryptocurrencies but is being widely used across a range of applications. Delivery tracking is becoming a more and more prominent use, JD.Com Inc. and Alibaba Group Holding Ltd., China's largest online retailers, have adopted the technology to keep an eye on the origin of goods from the source to the customer's door.

The move isn't Tencent's first foray into the field. It already uses blockchain across a range of applications, such as finding missing children or helping small- to medium-sized enterprises obtaining low-cost financing. It also built a blockchain infrastructure which offers clients the ability to make their own products and apps with the technology.

Follow Yicai Global on
Keywords:   TENCENT,China Federation of Logistics & Purchasing,BLOCKCHAIN