Alibaba-Owned Newspaper Creating NFTs Called ARTIFACT to Archive News; Tencent Sets Up Blockchain HQ

SCMP also aims to create a DAO and develop its marketplace platform in the last phase of the roadmap, according to their litepaper.

China’s tech giant Tencent is planning to set up a blockchain headquarters, reported The Economic Daily, a CCP newspaper directly under the Central Committee sponsored by the State Council. Blockchain-focused VC firm, Sino Global noted,

“It is an important public opinion position for the Party Central Committee and the State Council to guide national economic work.”

Besides a blockchain HQ, Tencent will also set up a blockchain commercial computing platform in the Haidian district of Beijing. This district is reportedly at the core of the international science and technology innovation center promoted in China's “14th Five-Year Plan.”

However, reportedly, it doesn't have anything to do with cryptocurrency.

Tencent has also registered a series of new blockchain patents in different fields, suggesting that “the company is on the verge of launching new blockchain-related businesses,” stated Sino Global.

Baidu, the “Google of China,” also has its own open blockchain platform called XuperChain, which aims to be open source, self-developed, and controllable, claiming to have completed over 400 million transactions and serving more than 3.5 million users.

Another giant, e-commerce giant, has been actively promoting blockchain technology, focusing on product traceability. It launched its blockchain business in 2018 and a blockchain-based billing app that can digitally track CPIC (China Pacific Insurance) invoices.

Recording the History

In November 2017, Alibaba Group, Ant Financial Group & China’s Xiong’an New Area signed a strategic cooperation agreement to build a digital Xiongan blockchain implementation platform.

Alibaba Group currently holds the most blockchain technology patents in the world.

Jack Ma-owned Alibaba’s Hong Kong-based newspaper South China Morning Post (SCMP) has also announced that it is now creating its own NFTs to archive news.

The company released the litepaper of “Artifact,” sharing that by creating a standard for the recording of history on the blockchain, it aims to ensure immutability and decentralized ownership.

By tokenizing history as “ARTIFACTs,” everyone will have the opportunity to discover, collect, showcase, trade, and reanimate meaningful moments and objects from our collective human experience, it said.

The lightpaper also mentions a roadmap for the NFT project, which states that after launching the ARTIFACTs, they will enable multi-chain minting capability for them and open them to select partners chosen and authenticated by the Council.

The last phase of the roadmap is to create a DAO to manage the authentication of ARTIFACTs and develop its marketplace platform.

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