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Chinese conglomerate Tencent Holdings is joining forces with blockchain company ShareRing to launch a new digital identification system to simplify international travel amid the COVID-19 pandemic.
As reported on Tuesday by the South China Morning Post, ShareRing will combine its distributed ledger technology with Tencent’s cloud services to create a blockchain-based digital identity management platform.
In particular, ShareRing will use Tencent Cloud’s optical character recognition and facial recognition technology to enhance its “self-sovereign identity app”. In its current form, the app can be used to book flights, hotel reservations, car rentals, and a variety of other services.
In a joint statement, Tencent and ShareRing said the goal of this partnership is to help Southeast Asian countries “reopen their borders to tourism and recover from the economic blow” of COVID-19.
The travel and tourism industry has been ravaged by global blockades, with S&P Global Ratings forecasting a 60% to 70% decline in global air traffic this year.
The companies indicated that the platform has already received interest from various government agencies in the Association of Southeast Asian Nations, which includes 10 member states.
Blockchain technology has long been touted as a potential value driver of digital recognition systems. The blockchain is said to provide more secure management and storage of digital identities, which can allow for seamless travel, background checks, health record collection and optimized Know Your Customer protocols.
This isn’t the first time Tencent has been linked to blockchain product development. As Cointelegraph previously reported, the tech conglomerate had previously built a wine traceability platform for China’s oldest wine producer. Tencent also supports a blockchain consortium called FISCO BCOS through its WeBank entity.
ShareRing did not immediately respond to a request for comment.
