Tech China Post #64

WeChat developed a viral game called Jump that has amassed 100m players. Brands like Nike and McDonald’s are taking notes and advertising on Jump. Each ad costs a reportedly $3.2M to run 5 days. (link)

JD.com, China’s second largest e-commerce website, is expanding to banking and insurance. JD.com is looking to raise close to $2B in new capital to support this expansion. (link)

Chinese Ministry of Industry and Information Technology is discussing how standard frameworks for blockchain implementation might be built for the country. Blockchain was a key topic in the 5-Year plan. Many expect that a standard blockchain framework will be ready within the next two years. (link)

China’s patent applications jumped 13% year on year to 48,882, the World Intellectual Property Organization reported. Filings from the country have climbed more than 10% annually since 2003. (link)

It seems like Best Buy is the next U.S. major business to terminate its relationship with Huawei due to national security concerns. Best Buy will reportedly stop selling Huawei phones. AT&T and Verizon terminated their relationships with Huawei last year. (link)