Chinese internet conglomerate Tencent announced a blockchain research partnership with multinational tech corporation Intel at a conference yesterday.
The deal, which will see a new R&D lab established in Wuxi, Jiangsu Province, aims to fuse Intel Core technology with the Tencent User Security Infrastructure (TUSI) standard to develop a secure blockchain system for the Internet of Things (IoT).
The effort aims to develop accounts secured by "hardware keys and blockchain," so that IoT devices can "enjoy unified security capabilities," a local news source states.
Intel has been pursuing blockchain technology for some time, with a particular emphasis on its own hardware-based security. As reported by CoinDesk, the firm uses so-called "software guard extensions" (SGXs) to create secure enclaves within its processors to protect vital data.
Tencent, which notably developed the WeChat messaging app, also has a history with blockchain technology. Back in April, the company released a white paper detailing a suite of blockchain services currently in development. And, in June, the firm revealed work with Bank of China on a blockchain research effort.
Tencent event booth image via Shutterstock
The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected].