Renowned Chinese Newspaper To Launch A Blockchain Laboratory Soon.

Renowned Chinese Newspaper To Launch A Blockchain Laboratory Soon.

2018-10-24 | Selina Mathew

Renowned Chinese Newspaper To Launch A Blockchain Laboratory Soon.

The venture capital wing of the native newspaper of the Communist Party of China [CCP] — People’s Daily on-line — has recently signed a deal for a strategic deed on a blockchain laboratory, in line with a press release.

People’s Capital signed a deed of partnership with Shenzhen-based technology company Xunlei Ltd. As per the terms of the agreement, the 2 corporations can construct a laboratory for “technology innovation” at the People Capital’s Blockchain analysis Institute.

In addition to researching blockchain application in numerous use cases, the partners would also build a “high-level industrial service platform” to arrange competitions, seminars, workshops, and promote and determine startups within the blockchain ecosystem.

In line with the press-release, the laboratory is a part of an initial world-wide partnership agreement signed by People’s Daily on-line and Xunlei Ltd on 22nd July of this year.

The People’s Daily on-line is the on-line version of the People’s Daily, that was launched back in 1948. Since the publication’s origin, the People’s Daily has been directly controlled by the major leadership of the CCP.

Earlier in the year 2012, the web version went public on the Shanghai stock exchange, transforming into the primary news web-site within the country to be listed on the A-share market. The publication is wide considered a mouthpiece for state policies and positions.

Xunlei Ltd could be a blockchain infrastructure supplier and is additionally called the “BitTorrent of China” for developing the Xunlei transfer manager, a peer-to-peer software that supports HTTP, FTP, and BitTorrent protocols.

Even earlier this year, the CCP revealed a primer on blockchain technology and its potential applications. Ye Zhenzhen, general managers of the People's Daily then stated that the foremost important part of blockchain technology is its “operating mechanism.” He added, “Through the ingenious combination of technologies, the fair distribution of resources is completed.”

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