People Capital and Xunlei Inked Strategic Partnership on Blockchain Laboratory

The investment and venture capital arm of People’s Daily Online signed a strategic partnership agreement with Xunlei Limited 迅雷集团.

People Capital (人民创投), the investment and venture capital arm of People’s Daily Online, today signed a strategic partnership agreement with Xunlei Limited (Nasdaq: XNET 迅雷集团) to promote blockchain innovation and empower the real economy with blockchain applications.

Under the partnership, People Capital and Xunlei (迅雷集团) will establish a technology innovation laboratory as part of People Capital’s Blockchain Research Institute. Both entities will work together to explore blockchain as a foundational technology across various business scenarios. Furthermore, a high-level industrial service platform will be built up to organize offline activities, such as workshops, industry seminars and application competitions, in order to facilitate information sharing, promote innovation and identify potential start-up companies in the blockchain sector.

People’s Daily Online (人民网) is a large-scale information exchange platform with news at its core, constructed by China’s largest newspaper People’s Daily. In 2012, People’s Daily Online went public on the Shanghai Stock Exchange, becoming China’s first news website listed on the A-share market.

According to People’s Daily Online, the Blockchain Research Institute serves as a research platform on blockchain technology. Leveraging respective strengths, People Capital and Xunlei (迅雷集团) will work closely in boosting blockchain innovation, adoption and promotion. Mr. Chen also delivered a keynote speech during the ceremony and addressed that Xunlei (迅雷集团) will continue to focus on the research and development of blockchain underlying technologies and is dedicated to developing ThunderChain as a mainnet and ecosystem for blockchain startups and developers.

The establishment of blockchain laboratory is part of the global partnership agreement between People’s Daily Online and Xunlei (迅雷集团) signed on July 22. The partnership was revealed at the China-US Entrepreneur and Investment Summit, hosted by People’s Daily Online in Silicon Valley.

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