People’s Daily Online, a venture company, owned by the newspaper of the Chinese Communist Party (CCP), has entered into a strategic partnership deal with a startup to establish a blockchain lab, according to an official press announcement.
People’s Capital contracted with Xunlei Limited, a technology firm based in Shenzhen. Under the contract, both organizations intend to create the lab for the development of innovative technologies at the People Capital’s Blockchain Research Institute.
In addition to studying different blockchain uses, the partner companies are planning to create a top-level industrial platform for conducting seminars, contests, conferences, as well as promoting startups in the distributed ledger area.
The creation of the blockchain lab is considered part of a large cooperation agreement between People’s Daily Online and Xunlei Limited, which was concluded in July 2018.