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China’s Xunlei Gears Up for Launching Blockchain Production Overseas

Apr 19, 2018 by Yun Nie
China’s Xunlei Gears Up for Launching Blockchain Production Overseas

The 2018 Qingming Festival was a special time for Chen Lei, CEO of Xunlei and Onething Technology, as he sacrificed his vacation with the family to spend time visiting high-ranking government officials in Thailand.

His official visit to the nation was identified as the beginning of Xunlei’s strategic expansion into the Southeastern Asian market; perhaps Thailand will be the company’s first global site.

Breaking into the Southeastern Asian market via blockchain technology

Blockchain technology was the foremost topic for Chen Lei as he met up with Dr. Punsak who is the deputy prime minister of Thailand’s digital economy department and society department.

Since last year, Thailand has been active in blockchain technology and has become a pioneer among members of the Association of Southeast Asian Nations (ASEAN). Thailand is now in a position to roll out a “digital identity card” requiring high-level concurrent processing based on the technology.

Dr. Punsak showed great interest in Xunlei’s blockchain technology because the company’s Lightning Network can meet such a demand and provide Thailand with the necessary technical support.

With the intention of furthering Xunlei’s interest in the country, Chen Lei visited the chairman of The Stock Exchange of Thailand and two deputy general managers of Bank of Thailand.

Last year, The Stock Exchange of Thailand had constructed a blockchain-based investment market, providing start-ups a convenient platform to raise funds. Corroborating this, one of the deputy general managers Dr. Paiboon professed the country’s interest in blockchain – particularly supervising virtual currency and digital certificates, such as Xunlei’s LinkToken. The meeting with the other deputy general manager Ms. Siritida was more interesting as she encouraged the company to join in a “sandbox project” launched by the Bank of Thailand aimed at developing new technology.

Based on the same agenda, Chen Lei visited the headquarters of CAT Telecom Public Company, the state-owned company that runs Thailand's international telecommunications infrastructure. The Thailand government underlined CAT Telecom in order to establish an interconnecting network of ASEAN members.

A report revealed that Xunlei is supposed to cooperate with CAT Telecom in developing blockchain and Cloud Computing. The cooperative programs may relate to Xunlei’s advanced computing technology.

CAT Telecom now operates 7 data centers possessing approximately 1000 server racks, and since 2016 it has attempted to undertake strategic changes and seek new partnerships. The company is attracted by Xunlei’s salient computing technology that could promote computingefficiency and construct a cloud computing network, thus ignoring limitations in conventional methods that relied on building data centers to improve computing capability.

https://cdn.thepassage.cc/filters:quality(70)/public/image/2018/04/image2-6.jpeg

(Image from Google)

Xunlei has been well-prepared for globalization after its OneThing Cloud - a private cloud, specially designed for high-quality digital entertainment life with personal storage, document management, remote control, and multimedia center - was certificated by Federal Communications Commission (FCC) and the European Commission (EC).

Chen Lei’s Thailand journey will be a remarkable event, not only because Xuilei’s blockchain and cloud computing technology has been increasingly accepted by foreign organizations, but also because it unveiled the company’s first strategic plan to globalize.

Riding the globalization wave through OneThing Cloud and cloud computing

It is clear for Chen Lei that the really big benefits of globalization come from blockchain technology diffusion, which encouraged Xunlei to develop OneThing Cloud and dedicate it to furthering international integration.

Chen Lei tweeted, “our advanced computing technology relies on collecting individuals’ computing resources, rather than data centers, to run cloud computing. The strategies were formed because of users’ demands for high computing capabilities. Many people believe that quantum computing is the fundamental solution to cloud computing cost. However, quantum computing now still remains theoretical. What we see in reality is the social phenomenon that computing resources held by users have surpassed that of enterprises. Therefore, we designed a blockchain app called OneThing Cloud based on the phenomenon. As we sell more smartphones to users, we grab more computing resources via those devices, and more users are invited to join in the blockchain.”

“We are fortunate to create OneThing Cloud that has appealed to a great number of users. Like most new technologies, Xunlei’s achievement today is the outcome of the pressure originating from users’ experience. Thus, we should not put blockchain in a laboratory; instead, it should be used in everyday life because users’ feedback is our motivation for technology advancement.”

Yun Nie

Yun Nie is a New York-based tech reporter. She focuses on India-China financial market, global IT giants and technology-centric market trends. She can be reached at Yunnie@thepassage.cc.

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