The very first week of 2018 has seen three China’s top Internet giants’ deployment in the blockchain industry.
Blockchain Deployment and Spiked Stock Price
Renren, popular among students in early years as a counterpart of Facebook in China, almost forgotten in these years, are coming back with strategy in blockchain. Renren recently released its RRCoin whitepaper aiming at providing a blockchain-based open source platform for social networks. Its ICO project named RRCoin will be used in multiple scenarios such as live streaming, business marketing, social network games and wallet application with a total of 1 billion coins released. Renren’s stock (NYSE: RENN) spiked 19.63% on the day of the announcement on January 2, 2018 and 47.39% on the following day, with a total increase of 76%, on which whereas it fell at the past weekends by 30%. And it is reported just now that its ICO project is halted and required to refund.
NetEase, a top Internet company in China, has completed its investment in ArcBlock, a startup aiming to lead blockchain 3.0 revolution in US. Days ago it has launched a blockchain-based virtual game called Zhaocaikitties like Cryptokitties, which is NetEase’s new attempt as the earliest one to deploy blockchain technology for recreational and leisurely purposes.
http://news.8btc.com/blockchain-quake-in-china-3-more-internet-giants-march-into-blockchain-industry
