Intel and Tencent team up for blockchain tech

Intel and Tencent team up for blockchain tech

Chinese investment holding company Tencent and US-based Intel have joined forces to co-operate on blockchain projects, according to a number of Chinese media outlets.

Tencent is building China’s first Tencent User Security Infrastructure (TUSI) internet of things (IoT) lab, which, in turn, will build a smart city that would not rely on passwords.

The work is being carried out by Tencent’s subsidiary, Shenzhen Tencent Computer System.

According to a letter of intent signed by Intel and Tencent, the two companies will work together on developing blockchain solutions for the TUSI IoT lab, namely for security applications.

Chinese news site Laoyaoba reports the lab will use Intel’s cloud-based blockchain technology to provide companies with services such as security monitoring and product safety evaluation.