China People's Daily Funds VC Company Join Xunlei To Introduce DLT Test Center
People capital is an arm of China’s major print media known as the People’s Daily Online. It has partnered with Chinese International Corporation to create a DLT laboratory to discover the revolutionary technology in numerous scenarios. The business wire revealed this information on October 23th 2018.
Technology For Invention
The available information shows that Xunlei firm and China Online media have combined to discover the use of blockchain knowledge in the Chinese commercial environment. This technology is expected to bring significant changes to the crypto business.
The latest press release indicates that a planned association will enable the two companies to develop a technology invention research center. The institute will explore DLT in all segments of the economy. Both businesses have agreed that they will work together to boost blockchain acceptance, invention and promotion in China. The technology has not been fully embraced within China’s jurisdiction.
Lei Chen announced recently that ThunderChain will assist in promoting the DLT investigation and expansion procedure. Lei is the current chief executive officer of Xunlei Corporation. The technology will be helpful to new businesses and developers. Xunlei was developed fifteen years ago. The firm carries out its activities in China and it focuses on internet services and blockchain solutions. Onething Technology developed ThunderChain mainnet which is a Xunlei DLT subsidiary.
The team suggests that ThunderChain is a reliable platform that executes plenty of transactions in a day. Research shows that it can process more than one million transactions in sixty seconds. The venture is also accompanied with TCFS which is a devolved file storage method for blockchain technology.
A Devoted Platform For Disconnected DLT- Concentrated Undertakings
People Capital and Xunlei mainly concentrate on the use of DLT in diverse corporate scenarios. However, expressed its intention of introducing new platforms to cater offline events such as blockchain and meetings. Additionally, it intends to promote several events that promote sharing information and innovation.
Arguably the People’s Daily Online was created to be the nation’s largest tabloid. Shanghai stocks listed the entity’s shares in 2012. This event was historical since it was the first digital news firm to be listed. This means that it could now raise funds from members of the public.
The Chinese government banned bitcoin and other digital money previously. The country is now taking blockchain technology seriously by promoting its use. On 23rd this month, BTC administrator revealed that CAC had introduced a policy to supervise DLT-services in China. Therefore, China should encourage more digital money companies to join the industry and improve the economy.