The team at CoinNess.com have informed the crypto community that the secret partner of the Tron Foundation is Baidu. In the twitter announcement by the team at the online publication, they stated that they had received exclusive information that had revealed Baidu as the secret partner. The announcement also stated that the official announcement would be made in a week.

Exclusive: #Tron to Cooperate with China’s IT Giant #Baidu The Tron team told CoinNess.com that a partnership had been confirmed between Tron and China’s IT giant Baidu, which will be officially revealed by Baidu Cloud next week.

The full tweet can be found below.

Coinness – Real-time Crypto Market Index and News@coinness

Exclusive: #Tron to Cooperate with China’s IT Giant #Baidu

The Tron team told http://CoinNess.com  that a partnership had been confirmed between Tron and China’s IT giant Baidu, which will be officially revealed by Baidu Cloud next week.

Tron Community Reaction to The News

The Tron community did not take long to express their excitement about the news. One tweet by @RoDijk1 gave impressive stats on how big of an announcement this is:

The company controls 66% of China’s online search market, according to StatCounter. Its closest competitor, Alibaba’s Shenma, controls just 14% of the market.

Popular Tron Community member @WLFOFMYST expressed some doubt that it is indeed Baidu.

Well….the speculation is running wild; like all of the @HulkHogan fans used to do back in the day. It’s great, I love it! It will create a media frenzy once again. One thing…I would say Baidu is not it. That partnership was already announced long ago.

He would later give his final thoughts on the whole partnership speculation in the following tweet:

T. @WLFOFMYST@WLFOFMYST

✍️ Final thoughts on partnership:

The rise in price leads me to believe that it is most likely Baidu. With the price of #TRON reacting to the news, it tells me the leak is most likely credible. Price could VERY WELL be in the process of getting “baked in” atm. $trx #trx #tron

TRX Market Performance Due to Partnership News and TVM activation

The news of a secret new Tron partner was reported less than 24 hours ago and TRX has ridden the wave of excitement all the way to the crypto markets. The strong market performance has also been aided by the successful activation of the Tron Virtual Machine on the same day of the secret partnership announcement.

The value of TRX has risen from $0.020 to current values of $0.023367. This is a percentage increment of 16.8% since early yesterday (0:30 am UTC), October 12th.

About Baidu

Baidu is a Chinese multinational company specializing in internet-related services and products. Headquartered in Beijing, Baidu also has a big presence in the artificial intelligence industry. Baidu’s Global Business Unit, formed under the name of DU Group or DU Apps Studio, is an app developer with various apps and services. It has over 2 billion active users worldwide.

*This post is credited to Ethereum World News

China’s first blockchain pilot zone officially opened in Haikou, Hainan on Monday, Xinhua reports.

Its site is the Hainan Resort Software Community, which has launched a blockchain research institute in cooperation with Oxford University’s blockchain research center. The software community is also setting up an innovation center in partnership with China’s Renmin University.

The zone’s scope will cover more than research, however. According to the head of Hainan Province’s department of industry and internet technology, Wang Jing, “[the] pilot zone will commit to attracting blockchain talent around the world and exploring the application of blockchain in areas such as cross-border trade, inclusive finance, and credit rating.”

Several China’s tech players have already moved to Hainan and set up blockchain-related divisions. AI and search engine giant Baidu registered subsidiary Dulian Internet Technology in the island province back in August. Although Baidu hasn’t specified whether it will belong to the blockchain pilot zone, Dulian will specialize in blockchain tech development as well as online games.

China’s government is harnessing its data to make blockchain-based identity a reality

Global crypto exchange company Huobi—which recently completed a backdoor listing in Hong Kong—is also planning to set up a blockchain research lab in Hainan, according to an April 30 press release. The lab initiated with Tianya Community is scheduled to be completed before the end of this year. According to the release, Huobi’s plan is to move its domestic headquarters to the Haikou pilot zone, set up a blockchain incubator, and create “a billion-dollar global blockchain industry fund.” Huobi is currently operating only in a consulting and research capacity in China due to China’s infamous crypto crackdown.

Aside from Baidu and Huobi, NASDAQ-listed Xunlei—which launched its ThunderChain this past April—and 360 Blockchain Security which falls under China’s top cybersecurity company Qihoo’s 360 will also set up office in the new zone, local media reported.

Hainan is not the only Chinese province included in China’s national plan to make rapid advancement in the field of blockchain. Shenzhen launched its first venture capital fund of RMB 500 million on April 24 to focus on blockchain firms, about 2 weeks after the Hangzhou government invested in a $1.6 billion blockchain fund. China’s southeastern coastal province Fujian also announced a regional policy encouraging companies adopt blockchain technology during the same month.

At the Trusted Blockchain Summit 2018 held in Beijing earlier this month, emphasis on blockchain as was reaffirmed by the Ministry of Industry and Internet Technology’s chief economist, Wang Xinzhe. According to Wang, blockchain technology is important for the country as a whole, and the ministry will seek to support innovation and improve policies, among other things, in order to speed domestic growth.

*This post is credited to TechNode

Cryptocurrencies and the blockchain bring immense possibilities to streamline the economic infrastructure around the globe. Baidu and its partner, seafood supplier Top Crab, have just found another use: tracking down hairy crabs — after they leave the water.

The Chinese mitten crab (or Shanghai hairy crab) is a culinary delicacy sourced in Eastern China, more exactly in the Yangcheng Lake. The crustacean accounts for a nice share of the economy of the local area. While it is currently valued at roughly $6 — its season is in full swing — the price of a single crab can reach $50 throughout the year. Many attempt to counterfeit the crabs for this reason (don’t ask how, let’s face it, it’s China).

To counter this practice, crab sourcing company, Top Crab, sought a partnership with search giant Baidu, which happens to have launched its own blockchain only days ago. The association resulted in an applet that allowed Top Crab’s customers to track down and see it for themselves that their meal was truly fished in the Yangcheng Lake, according to 8btc.

While fake hairy crabs might not be the most important issue in the blockchain industry, there’s another lesson to be learned from this news. Yes, China has placed a cruel ban on cryptocurrencies, but it seems at the same time that it needs their underlying technology, the blockchain, more than ever. The country well-known for its counterfeiting industry and the blockchain is, without doubt, the optimal solution to this major problem. Therefore, two other questions arise. Does China want to combat the counterfeit market? And the second, how long will it take to realize that cryptocurrencies are to money exactly what blockchain is to counterfeit crabs — an immutable record of transactions?

*This post is credited to Chepicap

Beijing may hold a negative stance against decentralized currencies but blockchain – the technology that underpins all crypto – remains of great interest to the PRC and the country is now looking at a raft of intellectual-property-protection projects based on this emergent technology.

A number of incentives, such as subsidizing patent fees and tax credit rewards, are now reportedly being offered by local authorities to protect blockchain intellectual-property rights. According to Bloomberg, these are being rolled out by an increasing number of private Chinese companies as Beijing strives to gain ground on foreign competitors.

Head of Eiger Law’s intellectual property and technology practice in Taiwan, John Eastwood, told Bloomberg that “US universities and corporations are still doing amazing research and development, but it does not have the same support from the government as in China. That could lead to China pulling ahead.”

A rising number of patent applications have also been filed by Chinese companies in recent years. According to local media outlet Sina.com Chinese companies submitted 550 patent applications on blockchain technology around the world between 2008 and 2017. This means it has surpassed the US and South Korea to become the world’s largest blockchain patent applicant.

Chinese tech giants are also helping the country’s attempt to lead the way with blockchain adoption and development. Just last week retail giant JD.com announced the launch of a new blockchain platform which will allow its enterprise clients to develop applications and smart contract-based systems. The “Retail as a Service” (RaaS) strategy aims to help companies that lack detailed knowledge of blockchain technology to take advantage of its potential. The system competes with the Amazon Web Services (AWS), blockchain-as-a-service platform announced by the American online retailer in April.

Alibaba is also very keen on leveraging blockchain development and holds 43 related patents which cover areas of invention, design, and utility. The internet giant is

reportedly second only to the People’s Bank of China (PBOC), which has filed 68 blockchain patent applications. Alibaba also believes it can use the technology to combat counterfeit products and expand access to quality healthcare in China.

Despite China going full steam ahead with blockchain development, its negative stance towards crypto-currencies could be stifling further innovation. Ian Liu, a senior intellectual property associate at Deacons law firm in Hong Kong, told Bloomberg that “in this regard, China is not leading the world in terms of how it recognizes and regulates blockchain assets.”

While Baidu, JD.com and Alibaba, have already “recognized the importance of blockchain as a future technology,” Liu says China’s attempts to crypto-currency ban may ultimately slow the country’s blockchain development efforts.

*This post is credited to AsiaTime.