Tencent Cloud is joining forces with blockchain company ShareRing to launch a new digital identification system to streamline international travel amid the COVID-19 pandemic.
As the South China Morning Post reported Tuesday, ShareRing will combine its distributed ledger technology with Tencent Cloud's services to create a blockchain-based digital identity management platform.
Specifically, ShareRing will use Tencent Cloud's optical character recognition and facial recognition technology to help improve its "Self-sovereign identity app." In its current form, the app can be used to book flights, hotel reservations, car rentals and a variety of other services.
In a joint statement, Tencent Cloud and ShareRing said the aim of this partnership is to help Southeast Asian countries "Reopen their borders to tourism and recover from the economic blow" of COVID-19.
Blockchain technology has long been touted as a potential value-driver of digital recognition systems.
Blockchain is said to provide more secure management and storage of digital identities, which may enable seamless travel, background checks, health record collection and streamlined Know Your Customer protocols.
This isn't the first time Tencent Cloud has been linked to blockchain product development.
Tencent is also backing a blockchain consortium called FISCO BCOS through its WeBank entity.
Update 20:35pm ET 12/1/20: An earlier version of this story referred to Tencent.
It has been updated to note that Tencent Cloud is working with ShareRing.
Tencent Cloud joins forces with ShareRing to launch blockchain digital ID platform
gepubliceerd op Nov 17, 2020
by Cointele | gepubliceerd op Coinage
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