With Blockchain, China has a great opportunity to overtake the US: Xunlei CEO

China blockchain opportunity

RISE makes headlines as the largest tech conference in Asia, attended by the world’s leading companies, news media, investors and startups. Blockchain and cloud company Xunlei’s CEO, Lei Chen, spoke at the RISE tech conference in July in Hong Kong about the future of Sino-US technological innovation and blockchain technology.

RISE this year is expected to attract 15,000 attendees, over 350 speakers, and more than 700 hundred journalists. High profile speakers at this year’s event include Microsoft’s President, Amazon’s CTO, LINE’s CEO, the Head of Mercedes-Benz Cars and Hong Kong Chief Executive Carrie Lam.

At RISE, Chen commented on the current development of blockchain and said, “It’s making us lose sight of the bigger picture. There are some participants in the market who aren’t using the technology responsibly. We’re also seeing lots of entrepreneurs who are very focused on the application of blockchain and related technologies to change the world and benefit society. Those are the people Xunlei should support and not let down.”

Chen also expressed confidence in China’s progress at developing blockchain technology and said, “in this field, China has a great opportunity to overtake the US.”

Chen also spoke about Xunlei, a leading cloud service provider, driving blockchain technology forward. “We’re committed to making breakthroughs in performance,” he said. “Recently we launched our blockchain infrastructure ThunderChain, which can support more than one million TPS which stands for transactions per second, far ahead the rest of the market.”

At various conferences over the past year, the tech giant has already expressed its confidence in blockchain as a revolutionary technology. For example, at the Wuzhen Internet Conference last year, Xunlei reaffirmed its commitment to blockchain, providing an organic distribution platform, massive shared computing resources and other advantages, and using its 15 years of global leadership in innovation to propel China 20 years ahead in Blockchain innovation. Recently at the Big Data Expo, Chen predicted that citizens would start to experience the tangible applications of blockchain in 2018 or 2019 in what would be a blockchain Golden Age.

Leading Technological Innovation

Xunlei has been a leading representative of Chinese technological innovation, and under the leadership of CEO Chen over the past year, the company has made many impressive accomplishments in the realm of blockchain. For example, Xunlei launched ThunderChain, a high-performance blockchain platform, which can concurrently conduct millions of transactions per second (TPS). ThunderChain’s Open Platform has aided blockchain technology developers and entrepreneurs to create widespread, practical blockchain applications in a range of different sectors, ranging from genetic testing to public welfare. And the ThunderChain File System enables developers and enterprises to build decentralized applications with distributed data storage and integration.

Other innovations by Xunlei include launching the commercially successful OneThing Cloud, a product that draws upon user’s idle computing resources and organizes them into a massive shared cloud computing infrastructure. Xunlei has also created StellarCloud, another shared cloud computing platform which expands Xunlei’s existing Content Delivery Network (CDN) services to Infrastructure as a Service (IaaS). iQIYI, a market-leading online entertainment service in China, entered into a strategic cooperation agreement with Xunlei to use StellarCloud.

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With Blockchain, China has a great opportunity to overtake the US: Xunlei CEO

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