The Beijing Municipal Government announced the bidding results for the city’s blockchain and computing power platform. Tencent Cloud and government-tied enterprise Beijing Microchip Sensing Technology won the bid and will be paid US$37 million to build the system.

Fast facts

  • According to the bid’s quotations, Tencent Cloud will provide the cloud service for the blockchain platform, and Microchip Sensing Technology will manage the blockchain hardware accelerator devices.
  • Beijing Microchip Sensing Technology has a government background. It was set up by the Beijing Academy of Blockchain and Edge Computing, a government-established blockchain academy institution. Tencent is the company’s largest shareholder with 20% of the share.
  • The bid-winner announcement said the enterprises should deliver the results within 18 months from the contract date.
  • Beijing’s blockchain platform is meant for government matters such as to record company registration information and residents’ personal information, including identity, driver’s license, household registration, codes for city buildings and roads, and allowing multi-sectoral collaboration to review and approve documents for government affairs.
  • Beijing’s blockchain platform ultimately aims to support the Chang’an Chain — an ultra-large-scale blockchain network with more than 1 million nodes and a peak speed of 1 million transactions per second.