Cloud giant Xunlei is making a significant mark on the world’s nascent blockchain industry, as proven by recent accolades and partnerships with two of China’s most prominent, government-owned news outlets: People’s Daily and Xinhua News Agency.
On July 22, Xunlei was invited to sign a global partnership agreement with People’s Daily Online, one of the world’s largest online news sources, to promote technological advancements in the blockchain and cloud computing across international markets. The partnership was revealed at the China-US Entrepreneur and Investment Summit, hosted by People’s Daily Online in Silicon Valley. Ms. Tang Weihong, Vice President of People’s Daily Online and Mr. Lei Chen, CEO of Xunlei and its cloud computing subsidiary Onething Technologies attended the signing ceremony. Luo Linquan, Chinese Consul General in San Francisco delivered a speech at the event.
In addition to Xunlei, People’s Daily Online has been forming strategic partnerships with other global internet players, such as Tencent, in order to move the needle in the international tech landscape. Early this year, it also launched a dedicated blockchain news section under the site’s investment and start-up division. The Chinese-language site said the editorial expansion was designed to “deliver good content, purify the industry environment and use blockchain technology to empower industries”.
Xunlei has invested heavily in R&D, evident in its latest blockchain infrastructure, ThunderChain, which is capable of supporting over 1 million transactions per second (TPS). The company supports developers in creating more practical services on ThunderChain for consumers across a variety of sectors including medical, public welfare, copyright protection, product traceability, and more. In early July, Xuneli unveiled the ThunderChain File System (TCFS) which is a distributed file system specifically built for blockchain operating platforms.
In recognition of its contribution to blockchain innovation, Xunlei was recently honoured with the “Good Mass Entrepreneurship and Innovation Projects” award by state-run Xinhua News Agency. Since Chinese Premier Li Keqiang proposed mass entrepreneurship and innovation at the 2014 Summer Davos in Tianjin, it has been viewed as a new engine for China’s economic growth. The selection of the “Good Mass Entrepreneurship and Innovation Projects” was launched by Xinhua in 2016 which intends to identify high-quality projects, promote mass entrepreneurship and innovation, and foster economic transformation and upgrading.
These milestones align with China’s focus on innovation as a key driver for economic development. Blockchain technology saw its first mention by Chinese government in 2016 in the 13th Five-Year Plan, a road map for China’s development in the five years from 2016 to 2020. Blockchain was described as one of the major projects, along with quantum communication, AI, and autonomous driving, according to the People’s Daily.