Blockchain infrastructure powerhouse Xunlei established a strategic partnership with global leading payment technology provider Newland Hi-Tech Group to provide trusted and efficient solutions for managing digital identity and online payments, tackling cybercrime using blockchain.
Cybercrime has been on the rise with the rapid development and wide adoption of mobile payment and other new internet technologies. Lots of personal information is shared without awareness or even stolen easily by hackers. Identity theft is one of the typical cybercrime. Statistics show that every year nearly 10 million people’s individual information was stolen in United States. According to the 2017 Norton Cyber Security Insights Report, cyber-criminals were responsible for incurring $172 billion worth of damages to 978 million consumers in 20 countries in 2017.
New types of crime should be prevented with new technologies. Blockchain technology offers an entirely new approach to storing information, processing transactions, and establishing trust, which makes it especially suitable for some critical industries and sectors that requires high security. The partnership leverages Xunlei’s world-leading blockchain technology and infrastructure ThunderChain with Newland’s deep expertise in payments and big data to enhance digital experience for citizens.