Blockchain is one of the most discussed technological innovations of our time. However, its influence extends well beyond the technological solutions. The benefits of blockchain such as transparency and security are setting the new standards for the business world. Blockchain is not just an innovative tool, it is a game-changer.

The role of blockchain has been discussed during TechCrunch Hangzhou which has brought together over 8,000 attendees and more than 150 exhibitors. The event was packed with impassioned presentation and progressive ideas. The representative of Chinese multinational technological giant Xunlei gave a meaningful interview on the future of blockchain and its influence on business models.

Xunlei has developed a number of solutions that push the mass adoption of the blockchain. One of its latest projects –ThunderChain – was represented by its chief engineer Lai Xin. He attracted attention to the fact that today lots of businessmen see blockchain just as an effective technology, but its massive adoption will change the established business processes as blockchain has incredible potential to eliminate the need for the third party. That is why Xin referred to it as a social innovation.

The chief engineer of ThunderChain explained the reasons why blockchain is more than just a technological issue: “Social innovations have several features—they can meet the needs of society and expand its skills while also unleashing its demand. It can also bring more parties to join innovation and certainly it can shorten the whole decision-making process and cut out the middleman. It’s about changing how the enterprise works and improving efficiency.”

Today lots of companies get into blockchain just to follow the trend. Xin persuades businessmen to start their journey to the blockchain sphere from the indication of pain point. Once the company gets a clear vision of what it wants to achieve with the help of the new technology, it can start looking for the suitable solution. Lei Chen, CEO of Xunlei, pointed out that the infancy of blockchain is compensated by the incredible pace of its development. That means that the task of finding the ideal solution for the specific purpose simplifies every day.

Xunlei’s ThunderChain Open Platform is known for its incredible capacity: the platform can handle the millions of transactions per second. The latest priority for the project is aimed at startups and developers. New initiatives of ThunderChain significantly simplify the process of exploring and commercializing blockchain applications.

The latest announcement form ThunderChain introduced the ThunderChain File System and three ThunderChain Request for Comments standards. These innovations expand the list of opportunities available for the Dapp builders.

Xunlei is one of the most influential Chinese companies working in the blockchain sphere. It is not just making blockchain development a profitable business, it is stimulating the development of the whole sphere. It provides startups with exceptional blockchain experience, modules, and secured environment for testing.

The mass adoption of blockchain has turned into a matter of time. It may change lots of standard business models, but some rules will definitely stay the same. For example, the early supporters of the innovative technology make the most of it when it conquers the market – which is a strong point in favor of blockchain investment.

The post ThunderChain’s Chief Engineer Lai Xin Explains Why Blockchain is Social Innovation appeared first on CoinSpeaker.

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