June 8, 2020 Tencent Cloud launches a blockchain development alliance.

Tencent Cloud, a subsidiary of the Chinese conglomerate Tencent, launched a blockchain alliance on June 1 that aims to create standards and conduct research for the blockchain industry. The company plans to onboard 100 members over the remainder of this year and is targeting technology companies, universities, and think tanks as members among others. The news follows an announcement in April from Tencent that they had created a blockchain accelerator program.