China Sees Large-Scale Blockchain Applications by 2019: Xunlei CEO at China International Big Data Expo 2018

GUIYANG, China--()--The blockchain technology has been developing much faster than what some experts predicted and 2018 or 2019 may see many applications that can benefit end users in their daily lives and work, according to Mr. Lei Chen , CEO of Xunlei Limited (Nasdaq: XNET), who recently spoke at the China International Big Data Expo in Guizhou Province, China.

“The wide adoption of blockchain technology can significantly stimulate social and economic activities, ultimately increasing the national GDP by 10 or even 100 times”

“The era of Blockchain 3.0 has come. Xunlei’s ThunderChain makes it possible to create a blockchain-based shared computing model that involves over 1.5 million of families and end users,” said Mr. Lei Chen, “meanwhile, there are many startups and enterprises are now developing large-scale applications on ThunderChain.”

Commenting on the global competition in blockchain technology, Mr. Lei Chen believed that China and the US are now on the same starting line and the fundamental blockchain infrastructure is the core for any countries to lead the world in this new technology.

As the world's first big-data-themed exhibition, the China International Big Data Expo (“Expo”) is organized by China's National Development and Reform Commission, Ministry of Industry and Information Technology, State Internet Information Office and People's Government of Guizhou province. The Expo is expected to serve as a platform for global big data professionals, organizations and entrepreneurs to discuss industry trends while presenting their latest achievements. The 2018 event covered digital economy, big data, blockchain, data security and the integration of big data with people's livelihoods.

Mr. Lei Chen was invited to participate in a panel discussion focusing on value and governance of blockchain technology at the Expo on May 26, 2018. Other panelists included Don Tapscott (CEO of the Tapscott Group and co-author of “Blockchain Revolution”), Xu Hao (Deputy Mayor of Guiyang), Wang Zhiqin (Vice President at China Academy of Information and Communications Technology), Professor Shoucheng Zhang (Professor of Physics at Stanford University), Professor Xiaolei Liu (Professor of Finance and Accounting at Guanghua School of Management, Peking University) and Dao Yuan (Director of Zhongguancun Blockchain Industry Alliance).

“Now for the first time ever, we have an internet of value that anything with value – from money, stocks and music – can be managed and communicated by peer-to-peer in a secured and private way,” said Don Tapscott. Professor Shoucheng Zhang echoed the view that blockchain technology will be one of the three key trends in the future of information technology, as it provides an efficient and trusted platform for value exchange among people.

Mr. Lei Chen also delivered a keynote speech at the Expo on May 28, sharing with the audience how the blockchain technology can solve problems facing internet companies and users, namely trust and incentive issues. “The wide adoption of blockchain technology can significantly stimulate social and economic activities, ultimately increasing the national GDP by 10 or even 100 times,” said Mr. Lei Chen.

On April 20, Xunlei announced the launch of ThunderChain, a high-performance blockchain infrastructure that can concurrently process over a million transactions per second (TPS). The company has opened ThunderChain to third-party developers and companies, especially startups, to build, migrate and manage decentralized applications (DApps) that can benefit from Xunlei’s large user base.

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