Just!Tencent led Ali, Xiaohongshu, Baidu and JINGdong to do something big!

2022-09-06 0 By

The non-homogeneous token (NFT) technology framework project, led by Tencent holdings and participated by Ant Group and others, has been approved by a United Nations specialized agency. The company says the project is the world’s first UN-approved standard project for digital tokens.The project, entitled “Technical Framework for Digital Collection Services Based on Distributed Ledger Technology (DLT)”, has been approved by the International Telecommunication Union, the United Nations information and communications technology agency.NFT is widely known in China as a “digital collectible”, which is a non-interchangeable unit of data stored on a blockchain that can be sold and traded.Blockchain is a distributed ledger technology, a digital record that guarantees the authenticity and security of data records without the need for trusted third parties.Blockchains are used in decentralized cryptocurrencies such as Bitcoin and maintain a secure record of transactions on peer-to-peer networks.China’s NFT does not use public, decentralized blockchains because the Chinese government has banned cryptocurrencies, and China is developing its own network to support digital collectibles that are minted on locally controlled blockchains and must be purchased with RMB.China’s state-backed Blockchain Services Network (BSN) has rolled out infrastructure to support the deployment of NFT projects unrelated to cryptocurrencies.Led by Internet giant Tencent, the project is supported by enterprises, universities and institutions including Ant Group, China Academy of Information and Communications Technology, Beijing University of Posts and Telecommunications, and Zhejiang Innovation Center Zhejiang Laboratory., Zhejiang University and Alibaba Group Holding LTD.Ant Group is a subsidiary of Alibaba, which owns the South China Morning Post.”The international standard aims to clarify the technical architecture, technical processes, functional requirements and security requirements of blockchain-based digital collectibles, helping to promote a worldwide consensus and consensus on the formation of a technical framework for digital collectibles.Services, “Tencent wrote in a statement released on Tuesday.The first draft is expected to be completed by the end of 2022 and the final draft by next year’s submission.Many Chinese tech companies now offer NFT based on their affiliate blockchain.These, unlike the public blockchains used to power cryptocurrencies such as Bitcoin and Ethereum, are a mix of public and private blockchains overseen by centralised organisations with no public participation.Domestic tech companies including Bilibili, Tencent, Alibaba, JD.com, Baidu, Xiaomi and Xiaohongshu all sell their own digital collectibles.In July 2021, Tencent blockchain team Zhixinlian took the lead in launching a digital collection technology service named “Yuanshenqi Protocol” in China, which has enabled more than 30 projects such as Xiaohongshu R-Space.Editor of this article: Wu Xiaoyuan wants to know more exciting content, come to Yuan Say finance # blockchain dynamics #