Tencent, Huawei Make Bold Moves in Web3 Amid China's Crypto Constraints
Crypto News
21 Nov 2023 10:01 AM
Tencent and Huawei, two major Chinese tech giants, are making notable strides in the Web3 space despite the country's stringent regulations on cryptocurrency trading....
- Tencent and Huawei, major Chinese tech giants, are making strides in the Web3 space despite China's strict regulations on cryptocurrency trading.
- Chinese tech giants like Alibaba, Tencent, and Huawei have been increasingly visible in crypto events worldwide, leveraging their computing resources to support web3 startups.
- Chinese firms are venturing into the crypto space by providing cloud infrastructure, building enterprise blockchains, and offering node hosting services.
- Tencent has collaborated with public blockchains like Sui, Avalanche, and Scroll, while Alibaba has partnered with Aptos.
- Chinese tech giants recognize the potential of the Web3 industry and are investing in innovation and development, with Beijing aiming to become a global innovation hub.
The article highlights the progress made by Tencent and Huawei in the Web3 space, despite China's strict regulations on cryptocurrency trading. It also emphasizes the increasing involvement of Chinese tech giants in the crypto industry and their recognition of the potential it holds. Overall, the sentiment is positive, focusing on the opportunities and advancements in the Web3 sector.
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