People Capital signs deal with Xunlei to launch blockchain lab

People Capital, the venture capital arm of the official newspaper of the Communist Party of China, People’s Daily Online, has inked a strategic partnership agreement with Xunlei to establish a blockchain innovation laboratory.

Part of People Capital’s Blockchain Research Institute, this will explore the use of blockchain technology across various business scenarios. It will also put on workshops, industry seminars and application competitions, in order to facilitate information sharing, promote innovation and identify startup companies.

In 2012, People’s Daily Online went public on the Shanghai Stock Exchange, becoming China’s first news website listed on the A-share market.

Xunlei is a blockchain infrastructure and service provider. Onething Technologies, its cloud computing and blockchain subsidiary, has developed the ThunderChain Open Platform, which it claims can process over one million transactions per second, and also Thunder Chain File System (TCFS), a decentralised file storage and transmission system for blockchain applications.