People’s Daily Partners With ‘BitTorrent of China’ Xunlei To Launch ThunderChain Blockchain
The venture capital arm of People’s Daily Online, People Capital, has signed a deal with Xunlei Limited to use the blockchain technology for innovation. Distinctly, People’s Daily Online is the official newspaper of the Chinese Communist Party and one of the most prominent media sources of the country.
Per the terms of the agreement, the two companies will construct a laboratory for technology innovation at the People Capital’s Blockchain Research Institute. In addition to examining blockchain application in multiple use cases, the partners will also constitute a high-level industrial service platform to organize competitions, seminars, workshops, and promote and identify startups in the blockchain industry.
The establishment of blockchain laboratory is part of the global partnership agreement between People's Daily Online and Xunlei signed on July 22. Speaking on the announcement, Xunlei CEO Lei Chen said the partnership highlights the company’s focus on research and development of blockchain-related technologies and the ecosystem as a whole.
Recognized as the “BitTorrent of China,” blockchain infrastructure provider Xunlei Limited began as a cloud computing company before pivoting to the blockchain technology industry. The company launched a distributed file system called The ThunderChain File System (TCFS) and ThunderChain Open Platform in July as an underlying technology to support DLT platforms. ThunderChain can process over 1 million transactions per second and is embedded with strong scalability and stability.
The People’s Daily Online is the online version of the People’s Daily, which was founded in 1948. Since the publication’s conception, the People’s Daily has been undeviatingly managed by the top leadership of the Chinese Communist Party.
In 2012, the online version went public on the Shanghai Stock Exchange, becoming the first news website in the country to be registered on the A-share market. The publication is widely regarded as a mouthpiece for government policies, positions, and propaganda.