Tencent: We Will Never Ever Issue A Digital Token
A rumor spreads over the internet recently circulated that the Chinese tech giant Tencent (NASDAQOTH: TCEHY) is about to issue its own tokens. On July 30, Tecent officially reported that, the rumor is not true, Tencent will never ever issue a digital token.
Tencent is an internet platform leader in the domestic market as well as the global market. The firm operates the Mobile messenger Wechat which has 980 million monthly active users (MAUs). Its video game portfolio also makes it the biggest game publisher in the world. Tencent has earned 167.5 billion yuan in online games in 2018, more than 70% of its estimated sales of 239.4 billion yuan last year.
It was reported that Tencent has submitted trademark applications for Bo Token, Qbanking, LinkBanking, Fluctuation Planet, Fluctuation Star. The nearest submission date is on July 16 and all these new trademarks are currently under pending application process.
Of Late, Chinese internet giants Baidu and NetEase have launched their blockchain platform named Du Yuzhou and Planet of Force. Obviously, Tencent is about to follow their steps to launch a blockchain platform and may issue its own digital token at the same time.
According to the official website of China Trademark Office, Tencent has submitted plenty of the trademark application this year. Except the trademarks mentioned above, Tencent also submitted the trademark application for ‘Infcoin’ on July 5.
Different to other trademarks, the ‘Infcoin’ is comes to a stage waiting for the substantive inspections. Key words including ‘data encryption’, ‘data storage’, ‘electronic payment’, ‘currency trading’ have be mentioned in the trademark description.
Li Junhui, a senior researcher at the Intellectual Property Research Center of China University of Political Science and Law indicated that, trademarks are applied according to the category of goods or services. Therefore, the goods or services mentioned in the category of this application may be involved in its business process.
However, Tencent’s CEO Pony Ma use to claim that Tencent will not issue its own digital token.
“Blockchain is a good technology, but it is still in the early stages of development. Tencent is also actively exploring the application of blockchain in various scenarios,” said Ma.
He also added that Tencent has no plan to issue a token due to the potential risk and regulatory issues.