Tencent’s WeBank Says Blockchain Will Drive Greater Bay Integration


Tencent-backed digital lender WeBank has highlighted the role of blockchain technology in driving the integration of the Greater Bay Area of Guangdong province, Hong Kong and Macau.

Ma Zhitao (马智涛), WeBank chief information officer (CIO), said to China Securities Journal that the digital bank is currently in the process of using blockchain technology to improve flows of data throughout the Greater Bay Area for commercial and economic purposes.

“The development of digital infrastructure plays an indispensable role in the integrated development of the Greater Bay Area of Guangdong, Hong Kong and Macau,” Ma said.

“However, at present Greater Bay still faces numerous challenges when it comes to the flow of data as a factor of production. For this reason WeBank advocates using blockchain technology to enable data as a factor of production to flow more smoothly across the three parts of Greater Bay, in order to use it more effectively in different areas.”

Ma made the remarks at the release of the “Report on Blockchain Assisting the Integrating Development of the Greater Bay Area (2022)” (数“链”大湾区——区块链助力粤港澳大湾区一体化发展报告(2022)) by the China Development Institute.