Xunlei Limited, a leading innovator in shared cloud computing and blockchain technology, and the Hong Kong University of Science and Technology (HKUST) on June 20th signed a partnership to establish a blockchain research laboratory called ‘the Joint Lab’, according to a report by Asia Crypto Today. 

Developing Blockchain Ecosystem for Guangdong, Hong Kong & Macau 

The Joint Lab focuses on developing blockchain technologies that can be applied to different industries and creating a blockchain ecosystem for the Guangdong, Hong Kong, and Macau areas.

The signing ceremony took place on campus at HKUST to officially open the Joint Lab. Professor Tim Cheng, Dean of the Faculty of Engineering of HKUST, and Xin Lai, Chief Engineer of ThunderChain at Xunlei, signed the agreement on behalf of the two parties.

Collaboration for Better Blockchain Solutions

Leveraging HKUST’s research capabilities and the industry experience of Xunlei, the Joint Lab is expected to carry out a series of blockchain technology initiatives and developments. Main research areas include consensus algorithms, cryptography, and data protection, supported by Xunlei’s infrastructure of ThunderChain and Thunder Chain File System (TCFS).

The two parties will work to develop a blockchain encryption program that allows users to access data without risking personal information breach, establishing an overall blockchain system with a higher level of security.

Chen Lei, CEO of Xunlei and Onething Technologies, said the lab would contribute to technological and economic development.

“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,” Chen said. “We also hope young generation will join us in this endeavor to make blockchain technology widely used and working for a better future.”

Source: https://www.asiacryptotoday.com

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