Xunlei and Onething Technologies CEO Mr. Lei Chen at the World Economic Forum © World Economic Forum
TIANJIN, China – Xunlei (Nasdaq: XNET) and Onething Technologies CEO Mr. Lei Chen was invited by the World Economic Forum and attended the 12th Summer Davos held in Tianjin, China. He spoke at the Closing Panel on how to build China’s innovative society in the Fourth Industrial Revolution. The panelists addressed the impact of emerging technologies on individuals and society, when China and other countries are moving forward into the Fourth Industrial Revolution.
Lei noted that there is a strong need to focus on research and development in the Fourth Industrial Revolution, especially around the fundamental science and technology like blockchain technology. He also shared his insights into the data ownership and data custody in the Forth Industrial Revolution.
Closing panel on shaping China’s innovative society in the Forth Industrial Revolution © World Economic Forum
Lei stated that in the virtual world, data should be of the people, by the people and for the people. He believed that only by protecting users’ data ownership and rights can the threat of data monopoly be mitigated, thus fostering new industries such as artificial intelligence and blockchain.
The emergence of blockchain provides fundamental technological solution to solve the problems around data privacy and sharing. “With the continuous development of policy and legal system, we can leverage the power of the blockchain to truly return the data ownership to each owner,” said Lei.
As a global leader in shared computing and blockchain technology, Xunlei and its cloud computing subsidiary Onething Technologies have been developing industry-leading blockchain. The company has lately reported significant progresses in blockchain infrastructure including ThunderChain, a high-performance blockchain platform capable of millions of transactions per second, and ThunderChain File System (TCFS), a distributed storage network designed specifically for blockchain applications.
The World Economic Forum’s 12th Annual Meeting of the New Champions, has drawn over 2,500 participants from 111 countries on 18-20 September 2018 in Tianjin, China. The event is a global summit on innovation, science and technology, promoting entrepreneurship in the global public interest. This year, emerging technologies, such as artificial intelligence (AI), blockchain and the internet of things, are at the core of the summit agenda.