Xunlei Establishes Joint Laboratory with HKUST to Drive Innovation and Applications of Blockchain Technology
06/17/2019 | 08:01am EDT
SHENZHEN, China, June 17, 2019 (GLOBE NEWSWIRE) -- Xunlei Limited (“Xunlei” or the “Company”) (Nasdaq: XNET), a leading innovator in shared cloud computing and blockchain technology, today announced that the Company and The Hong Kong University of Science and Technology (“HKUST”) have established HKUST-Xunlei Joint Laboratory on Blockchain Technology (the “Joint Lab”). The Joint Lab aims to develop cutting-edge and influential blockchain technologies that are applicable to various industries and establish a high-performance blockchain ecosystem in the Guangdong-Hong Kong-Macao Greater Bay Area.
A signing ceremony was held at HKUST Campus today to officially launch the operation of the Joint Lab and research collaboration. Professor Tim Cheng, the Dean of the Faculty of Engineering of HKUST, and Ms. Xin Lai, the Chief Engineer of ThunderChain at Xunlei signed the collaborative agreement, witnessed by Professor Nancy IP, the Vice President for Research and Development of HKUST and Mr. Lei Chen, the Chief Executive Officer of Xunlei and Shenzhen Onething Technologies Co., Ltd., one of our major operating entities in China.
By leveraging HKUST’s strong research capabilities and Xunlei’s solid industry experience, a series of blockchain technology initiatives and development will be carried out under the Joint Lab. Key research topics include consensus algorithm, cryptography and data protection. With Xunlei’s infrastructure support of ThunderChain and Thunder Chain File System (TCFS), HKUST’s world-class researchers and Xunlei’s technology experts will work together on a joint research project to improve existing consensus algorithm and explore new models, enabling individual users to share idle computing resources with small-sized hardware while establishing an overall blockchain system with higher security level so as to achieve sharing economy of computing network.
HKUST is a world-class research university that focuses on science, technology and business as well as humanities and social science. HKUST offers an international campus, and a holistic and interdisciplinary pedagogy to nurture well-rounded graduates with global vision, a strong entrepreneurial spirit and innovative thinking. HKUST attained the highest proportion of internationally excellent research work in the Research Assessment Exercise 2014 of Hong Kong’s University Grants Committee, and is ranked as the world’s best young university in Times Higher Education’s Young University Rankings 2018. Its graduates were ranked 16th worldwide and top in Greater China in Global Employability University Survey 2018.
Professor Tim Cheng said: “HKUST strives to achieve pioneering research and promotes technological innovation. Through the establishment of this Joint Lab, not only will it facilitate academic exchange and industry collaboration, it will also bring more learning opportunities for our students to equip with the advanced blockchain technologies and knowledge, contributing to the development of future technology talents.”
Mr. Lei Chen, Chief Executive Officer of Xunlei, concluded: “We are very excited to partner with world-leading institutions like HKUST to explore use cases of blockchain and translate these insights into impactful applications, together contributing to technological and economic development. We also hope young generation will join us in this endeavor to make blockchain technology widely used and working for a better future.”
Founded in 2003, Xunlei Limited (NASDAQ: XNET) is a leading innovator in shared cloud computing and blockchain technology. Xunlei provides a wide range of products and services across cloud acceleration, blockchain, shared cloud computing and digital entertainment to deliver an efficient, smart and safe internet experience.
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