Tencent, Blockchain and Fintech for a true “genetic mutation” of the company
Blockchain

Tencent, Blockchain and Fintech for a true “genetic mutation” of the company

By Fabio Lugano - 5 Nov 2018

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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.

Fabio Lugano
Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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