New Frontiers in Blockchain
On October 23rd, People’s Capital, the investment arm tied to the People’s Daily Online, announced a groundbreaking partnership with Shenzhen-based Xunlei Limited, a renowned player in blockchain technology. This partnership marks a significant turning point in how blockchain applications will be researched and developed within China.
Constructing a Blockchain Laboratory
The collaboration aims to establish a cutting-edge blockchain laboratory at the Blockchain Research Institute. This innovation hub is set to not only delve into diverse blockchain applications but also create a comprehensive industrial service platform. This platform will invite tech enthusiasts and startups alike to engage in competitions, workshops, and seminars, thereby nurturing the growth of the blockchain ecosystem.
Building on Previous Agreements
This recent lab initiative is a step forward from a global partnership pact signed between People’s Daily Online and Xunlei back on July 22. Both entities are focusing on leveraging their strengths to enhance technological innovation—an attractive proposition given the rapid advancements in blockchain technology.
A Historical Perspective on People’s Daily
People’s Daily Online isn’t just your everyday news site; it’s a storied publication founded in 1948 that has been directly governed by the Communist Party of China. In 2012, it made history by becoming the first online news outlet to be listed on the Shanghai Stock Exchange, showcasing its vital role in Chinese media as a voice for government policies.
Xunlei: The BitTorrent of China
Xunlei has established itself as a leading blockchain infrastructure provider, earning the nickname “the BitTorrent of China.” The company’s origins trace back to its popular download manager that supports multiple protocols. With this expertise, Xunlei is uniquely positioned to contribute to the blockchain laboratory and its initiatives.
Insights from the CCP on Blockchain Technology
The Chinese Communist Party has shown increasing interest in blockchain, recently publishing a primer that outlines its potential applications. As Ye Zhenzhen, the General Manager of the People’s Daily, pointed out, the “operating mechanism” of blockchain is crucial. He emphasized that effectively combining technologies leads to fair resource distribution—the essence of true innovation.
The Road Ahead
As the partnership unfolds, the world will be keenly watching how these moves reshape the landscape of blockchain in China. With strategic support from the CCP and the merging of traditional media with cutting-edge technology, the future is as exciting as it is uncertain.
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