People Capital Partners Xunlei to Develop Major Blockchain Laboratory

The agreement was jointly announced by the heads of all of these companies recently. Mr. Zhao Yahui of People Capital, Lei Chen of Xunlei and Onething Technology CEO reveals the move via press release.

People Capital and Xunlei to Establish a Blockchain Laboratory

People Capital, Inc. a New York credit risk management and student financing firm. It announces a partnership with Chinese firm Xunlei for developing a blockchain laboratory. People Capital provides p2p for building a lending platform that matches students to college funds.

According to the press release, the partnership signs on 22 oct. 2018. The collaboration aims to promote blockchain innovation and boost the real economy with blockchain applications. Under the agreement, People Capital and Xunlei will establish a technology innovation laboratory. Basically, as part of the people’s capital blockchain Research Institute. Both firms will explore blockchain as a foundation technology across various business applications.

Additionally, the two companies will build a high-level industrial service platform to organize offline activities of the lab. The press release describes such activities as workshops, industry seminars, application competitions, and hackathons. They believe this will facilitate information sharing, promote innovation and identify potential start-up companies in the blockchain space.

Xunlei is a technology company which came into existence in 2003 belonging to the Chinese province of Shenzhen. The company specializes in providing networking technologies for a global clientele ranging from individual, corporate companies to Governments.

The company deals in a wide range of products including digital entertainment, cloud acceleration, cloud storage, and cloud computing. Recently the company started expanding into the blockchain sector with launched a widely use blockchain platform in China.

Boosting People’s Capital Blockchain Institute

Moreover, People Capital runs a large-scale online information exchange platform with news updates. The platform was constructed by China’s largest newspaper People’s Daily. The news website went public in 2012 becoming China’s first news website to list on the A-Share market. According to the people’s daily the blockchain, research institute serves as a research platform for blockchain technology.

In the partnership, People’s Capital and Xunlei are to leverage their combined strength to boost blockchain innovation, adoption, and promotion. According to a keynote speech from Mr. Chen, Xunlei will majorly concentrate research and development of blockchain underlying technologies. Currently, Xunlei is developing ThuderChain as a mainnet and ecosystem for blockchain startups and developers.

The establishment of the blockchain laboratory comes as a part of the global agreement between People’s daily online and Xunlei. The Partnership was revealed at the China-US Entrepreneur and investment Summit, Hosted by People’s Daily online in Silicon Valley. The establishment of blockchain laboratory is part of the global partnership agreement between People’s Daily Online and Xunlei signed on July 22.

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