Tencent and Ripple – Too good to be true? I think not!
Folks make way, Ripple has made their way into China. Tencent is pledging $2 billion to integrate Ripple technologies on its WeChat and other social media platforms in a bid to compete with Alibaba and Amazon payment services. Tencent will convert the $2 Billion dollars into XRP.
The big news coming from this weekend was the blog post coming from Tencentcloud.io which stated that Tencent and Ripple are in the works of a massive partnership. All over Twitter and Reddit, the discussions went back and forth whether this was real information or fake. Some post were actually being removed from Reddit as the good old moderators said this was fake news and that there was not enough evidence to support that this tencentcloud.io was in fact related to Tencent. People claim that this news was debunked last year by a PR member of Tencent. Well, I am here to tell you that last year when they tried to cover it up worked! But I am also here to tell you that everything we have read dating back to last year until this past weekend is 100% true. Tencent and Ripple are working together, and the blog post (posted below) is all 100% true.
I have spoken to directly a member of the TencentCloud team to 1st of all verify that the 2 websites:
are actually related. Here is what they had to say: “Yes, Tencent Cloud is associated with Tencent.com. It’s similar to how AWS is related to Amazon.” BOOM.
Here is the article:
Link Here: https://tencentcloud.io/2018/05/07/how-china-is-running-forward-with-blockchain/
Tencent embraces Ripple currency
“The most effective thing a company of Tencent’s size and scale can do for the development of digital currency is to infuse some capital into various platforms. Tencent recently threw its support behind the Ripple payment protocol, pledging $2 billion to the project in March 2018. Over the course of the next year, Tencent will convert that $2 billion into Ripple cryptocurrency to be used across different applications within the Tencent ecosystem.
Ripple is an especially attractive digital payment protocol for banks and other financial institutions due to the fact that transactions are fast, relatively inexpensive to process and highly secure thanks to blockchain technology. By both providing monetary support to the currency and incorporating it into popular platforms like WeChat and QQ, Tencent has given Ripple the best chance possible to catch on with users in China.”
So why is this so big? Who is Tencent and what does any of this even mean?