Two Shenzhen companies —WeBank and Tencent — have been named among the top 50 global blockchain companies of 2023 by Forbes, a leading U.S. business magazine.
A total of six Chinese companies have made it onto the list, with the other four namely China Construction Bank, Industrial and Commercial Bank of China, Ant Group and Baidu, Shenzhen Special Zone Daily reported.
Over the past five years, the annual list has focused on practical results of leading enterprises in various industries around the world in applying blockchain, the distributed-database technology.
China has the largest number of blockchain patent applications in the world. According to global market intelligence firm IDC, the market size of China’s blockchain industry reached US$468 million in 2021, making it the second-largest blockchain spender in the world.
WeBank is recognized for its “Distributed Data Transfer Protocol.” The platform aims to solve the data transmission problem of personal data flow between institutions to better protect personal privacy.
In practical applications, the platform has been widely used in various aspects, such as finance, background investigations and dating, to help verify the authenticity of the data flow process for corporate customers in different industries.
By the end of 2022, the total number of business requests on the platform exceeded 3.1 million, and the number of financial business requests surpassed 2.5 million.
According to data from third-party institutions, as of December 2022, the number of Tencent's invention patent applications related to blockchain reached 4,800, and the number of authorized patents reached 1,900, ranking first among domestic internet companies.
Forbes’ latest list gives a brief introduction to the key application scenarios based on Tencent Cloud’s blockchain solutions, including application in the logistics industry.