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A blockchain-lab will be built in China

People’s Daily Online the official newspaper of the Chinese Communist Party has signed an agreement with Xunlei Limited on the use of blockchain technology to introduce innovations and expand the capabilities of the Chinese economy. The alliance between companies is part of a global partnership agreement, signed earlier this year at the Sino-US Entrepreneurs Summit, organized by the People’s Daily Online in the United States.

People’s Daily Online is an online version of China’s largest newspaper, the People’s Daily, through which the Communist Party spreads its views on current events. The company Xunlei Limited began its work in the field of cloud computing, and then moved to developments in the field of cloud technology.

Xunlei Limited

In his speech, Xunlei CEO Lei Chen said that the partnership emphasizes the company’s desire to focus on the research and development of blockchain-related technologies and the ecosystem as a whole.

As part of the partnership, People Capital and Xunlei will build a blockchain laboratory, which will be used to explore various options for using blockchain technology in certain business sectors. In addition to the laboratory, the alliance announced the creation of a service platform for the organization events, seminars and competitions for the exchange, identification and promotion of innovation among startups. The lab will be located in the building of the PeopleCraft Blockchain Research Institute.

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