China's government has shown great resolve in embracing blockchain, promoting the technology as a new frontier of innovation in industries such as finance, manufacturing and energy.
Following the government's determination, Nasdaq-listed digital services provider Xunlei is using its expertise in blockchain technology to inject new impetus to China's industrial upgrading.
Xunlei has invested in the potential of blockchain technology since 2016 to address challenges in areas such as finance, e-governance and law. ThunderChain, a high-performance blockchain platform developed by Onething Technologies and rolled out in April 2018, is capable of concurrently conducting 1 million transactions per second.
Based on Xunlei's independently developed proprietary homogeneous multi-chain framework, ThunderChain is capable of realizing confirmation and interaction among homogeneous chains and enables multiple transactions to be executed on different chains in parallel, according to the company.
Xunlei has made great strides in promoting the application of ThunderChain. As part of its efforts, it developed a traceable privacy solution which allows multi-level permissions to meet both privacy and traceability requirements and ensure both data protection and regulation.
Currently, Xunlei has introduced 16 products covering six industries of finance, social welfare, law, healthcare, e-governance and manufacturing over the year to serve different real-life scenarios, the company said.
ThunderChain was adopted by more than 100 enterprises and organizations and used in more than 50 projects in 2019. Xunlei's partners included the Copyright Protection Center of China, the Shenzhen Copyright Society, digital marketing service provider Hylink and Naresuan University Hospital in Thailand, the report said.
Source: China Daily
