Technological giant Tencent began to cooperate with the Chinese government on combating the risks associated with the blockchain, CoinDesk reports.
Tencent's Vice President Bin Ma announced the creation of the China Blockchain Security Alliance during the Blockchain Security Forum in Beijing.
The forum was organized by the Association of Technology Markets of China and is aimed at coordinating the work of various organizations on the "healthy development of the blockchain industry".
The security alliance of China's blockchain will include Tencent Security unit, as well as the Blockchain Case Study Center, the Association of China's Technology Markets and more than 20 public and private institutions.
The decision to form the structure was made against the backdrop of an increase in the number of crimes related to the blockchain in China. In April, the state edition of Xinhua reported that the Xi'an city police in the central part of the country suspended the activity of the financial pyramid, in the promo materials of which the developing technology was mentioned. The victims of the scheme are over 13,000 investors who invested about $ 13 million in 17 days.