Innovation of Blockchain: Xunlei’s Trump Card at 4th World Internet Conference

WUZHEN, China, Dec. 8, 2017 — Lei Chen, CEO of Xunlei Ltd. (NASDAQ: XNET) and Onething Technologies Co., Ltd., has just wrapped up his journey at the 4th World Internet Conference held in the scenic town of Wuzhen near Shanghai from December 3 to 5. Themed “developing digital economy for openness and shared benefits, building a community of common future in cyberspace”, this annual gathering highlighted global innovation leaders including Apple CEO Tim Cook and Google CEO Sundar Pichai. Mr. Lei Chen was invited to attend the opening ceremony for his innovation in crowd sourced computing and blockchain. He was also interviewed as a representative of technology innovation companies by China Central Television on the same day.

Lei Chen, CEO of Xunlei Ltd. (2nd from the left)
Lei Chen, CEO of Xunlei Ltd. (2nd from the left)

Having experience exploring crowd sourced computing and blockchain technology for years, Xunlei and its subsidiary Onething Technologies are highly recognized for the achievements they have made. Just in the past two years, Xunlei and OneThing have invested more than USD 100 million in crowd sourced computing and innovative technologies, aiming to resolve the computing resource dilemma. In Onething's crowd sourced computing mode, smart hardware is deployed in millions of homes to establish the world's first infinite-node distribution network, so the huge amount of idle bandwidth, storage and other computing resources that are scattered around the network can be aggregated through the exclusive crowd sourced computing technology and timely relocated to Internet-related corporate users at a price far lower than the traditional mode, which not only helps meet the industry's computing resource demand but also helps them slash costs.

In the third quarter of 2017, Mr. Lei Chen launched OneThing Cloud, a product integrating crowd sourced computing and blockchain, which is revolutionary in using the crowd sourced computing service accessible to individual users. While users can enjoy the enterprise-level personal cloud storage service provided by crowd sourced computing technology, they are also contributors of computing resources and are rewarded for sharing resources. With the innovative integration of blockchain and crowd sourced computing, Xunlei is tapping the potential of crowd sourced computing and accelerating the mass utilization of the blockchain technology to give China a leading position in this respect.

Lei Chen noted in the interview by China Central Television, “The Internet makes the world a village, so the technology of connecting people becomes the core technology. The historic mission of Chinese Internet companies against this backdrop is to establish a closely connected and sophisticated Internet economic community with technology innovation and development. We think that blockchain, cloud computing and sharing economy will play a crucial role in this process.”

China's technology innovation in blockchain, cloud computing and sharing economy will boost the efficiency of the Internet digital economy. More importantly, it will expand the spectrum of digital economy from enterprise-to-enterprise connection to people-to-people connection, drastically boosting the efficiency of the digital economy.

As a pioneer of blockchain technology in China, Xunlei is endeavoring to make this technology reach more people in China and will be an active promoter to integrate China's blockchain technology into the global blockchain eco-system. Meanwhile, as cloud computing is becoming the bond linking each country's Internet technology, the crowd sourced computing mode initiated by Xunlei will effectively address the contradiction between Internet company development and high computing cost. Through crowd sourced computing technology, the computing resources at the hands of massive consumers can be effectively shared, so as to eliminate the resource imbalance in cloud computing brought about by economic imbalance.

Statistics show that by the end of 2016, the crowd sourced computing business of Xunlei and Onething Technologies saved around USD 120 million worth of idle bandwidth, 32 million kilowatt hours of power, and 26,800 tons of carbon dioxide emission.

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SOURCE Onething Technologies Co., Ltd.

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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