Blockchain's diverse enterprise applications?

Yamini003

Xunlei Transforms and Elevates Business Levels Through Blockchain Enterprise Applications

For instance, Xunlei, a Chinese software company established in 2003, well-known for its P2P download tool, used to be synonymous with "downloads" in the Chinese internet space. It had become the unrivaled market leader in this field, with its downloading and P2P sharing software being the sole choices for Chinese netizens. However, even though they held a strong market leadership position, these activities were not high-value businesses, and relying on a single business model posed risks to Xunlei's future if newer technologies emerged.

In the last couple of years, Xunlei invested hundreds of millions of dollars in research and development projects like shared computing and blockchain, gradually transitioning into a technology provider offering B2B services to enterprises. They sought to move away from being associated with "downloading tools" and even "pirated resources." While file downloads and content distribution were Xunlei's core business, a few years ago, they began focusing on shared computing and Content Delivery Network (CDN) as their business core, offering services like fast file downloads, remote access, intelligent document management, privacy protection, and more, gradually moving away from a single subscription-based business model.

Xunlei integrated P2P technology with blockchain to launch "Xunlei Chain" and introduced a document system called Thunder Chain File System (TCFS). It's an open platform that combines blockchain and decentralized technology, allowing content to be uploaded while storing files on a distributed network. This results in properties such as transparency, immutability, traceability, high reliability, secure encryption, and massive storage.

Files distributed through the TCFS platform can be publicly tracked and remain unmodifiable, providing a reliable platform for distributing genuine content on the internet. Developers can create blockchain applications using the platform's resources, enabling regular consumers to legally use online resources while content owners benefit. Furthermore, the distributed network allows for infinite storage capacity.

Xunlei CEO Chen Lei stated that in 2018 to 2019, they would allocate more resources to blockchain technology and avoid controversial Initial Coin Offerings (ICOs). Xunlei Chain effectively combines the company's expertise in distributed networking technology with blockchain to establish a more efficient copyright protection mechanism, ultimately elevating Xunlei's business levels and reshaping its image from a perceived "pirate kingdom."

Asia Miles' Blockchain Management of Mileage Records

In Hong Kong, Asia Miles, which many are familiar with, is a mileage program where members can earn miles not only from flying with Cathay Pacific and partner airlines but also from everyday dining and spending. These miles can be used for a variety of purposes, including exchanging them for free flights and other rewards. However, the storage and crediting of these miles often take longer than expected. When Company A updates consumer records into the database, a series of document exchanges is required before the miles are credited to the user's account. In other words, it was impossible to use miles immediately after a flight for transactions at the destination.

Although these are essentially just digital numbers, there wasn't a platform that could settle miles quickly since partner merchants didn't have a reliable platform to manage miles. Blockchain technology addresses this issue perfectly.

Asia Miles integrated their mileage system into a private blockchain network. Each partner merchant can instantly update consumer data, and smart contracts immediately settle the users' miles. This not only speeds up the entire miles settlement process but also significantly reduces the amount of paperwork and human resources required for Asia Miles and all partners to process mileage settlements. It also enhances the user experience.

Storing mileage records on a distributed ledger also improves security. Even if a hacker infiltrates an airline's network, it doesn't guarantee success. Unlike centralized servers, private blockchains require authentication to enter, and all recorded data must be verified by other partners. This makes it more challenging for unauthorized alterations. Although the concept of earning miles through spending resembles earning cryptocurrency through contributions, Asia Miles emphasizes that it won't turn miles into a cryptocurrency. They see potential in developing more blockchain applications in the future. As we have reiterated, blockchain is not synonymous with cryptocurrency, and there is ample space for blockchain applications in enterprise solutions.

Ritu13

Very professional.

977Iti

Thanks for sharing.

Indra55

It's worth taking the time to learn a bit.

Jiten171

Don't have too many applications; I feel that too many can make things messy and confusing.