Xunlei Partners with Newland Hi-Tech Group for a Digital Payment and Advanced Cybersecurity Solutions
Xunlei, a blockchain powerhouse, has established a strategic partnership with Newland Hi-Tech Group, a top payment technology provider, to leverage the power of blockchain in managing online payments and digital identity, as well as tackling Cybersecurity.
With the wide adoption of the mobile payments, cybercrime has increased drastically, with hackers looking to get their hands on personal information shared across networks. According to statistics show that identities of around 10 million people were stolen in the United States alone.
New technologies such as blockchain should be used to prevent such kinds of crimes. The technology offers a whole new level of approach when it comes to processing transactions and storing information, establishing the much-needed trust for sectors and industries that need high security.
The Partnership Between Xunlei and Newland Hi-Tech Group
Xunlei brings to the table ThunderChain, its advanced blockchain infrastructure, known for its breakthrough in scalability and transaction processing capability. The blockchain infrastructure can easily handle about 1 million transactions per second, meeting huge transaction demands from millions of users simultaneously.
Xunlei also offers TCFS, a distributed file system specifically for other blockchain platforms. Any blockchain enterprise and developer can build their dApps using the platform and enjoy distributed data integration and storage.
Whereas Xunlei provides best-in-class technology, Newland offers its solid payment network and expertise in the marriage, bring blockchain into real-life circumstances. Newland has been a leading supplier of POS terminals globally, with its payment system hugely adopted by financial institutions in China, including China Construction Bank, Bank of China, Agricultural Bank of China, and UnionPay.
As per the deal, Xunlei will be mandated to sell the LinkToken program, which includes LinkToken Pocket and LinkToken Mall, within the mainland of China. After the deal, the company will then shift its focus and concentrate on its strengths to continue improving the scalability and performance of the ThunderChain.
On the other hand, Newland will integrate the digital assets to its payment solution, potentially expanding its applications to more sectors. The company is working with Chinese government institutions to help digitize public services in a program dubbed ‘Digital Citizen Program.’