Tencent and ShareRing will develop a digital identification system on the blockchain

Tencent and ShareRing will develop a digital identification system on the blockchain

Chinese conglomerate Tencent Holdings is partnering with ShareRing to launch a new blockchain-based digital identity system that will simplify international travel in the face of the COVID-19 pandemic.

According to the South China Morning Post, ShareRing will combine its distributed ledger technology with Tencent’s cloud services to create a blockchain-based digital identity management platform.

ShareRing will use Tencent Cloud’s text and face recognition technology in the identification app. In the current version of the app, you can book flights and hotels, as well as rent cars.

Tencent and ShareRing said the goal of the partnership is to help Southeast Asian countries “open their borders to tourism and recover from the economic blow” caused by the COVID-19 pandemic.

The companies note that the platform has already attracted interest from various government agencies of the Association of Southeast Asian Nations, which includes 10 countries.

This is not the first time that Tencent has participated in the development of projects on the blockchain. In April, Tencent WeBank integrated the DAML smart contract language into the technical infrastructure of the Blockchain-Based Service Network (BSN) alliance in China.

In the same month, Tencent launched an accelerator for companies working with blockchain, and in the summer filed several new patent applications related to blockchain, including solutions for fund management and advertising.

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