BEIJING, Nov. 15, 2019 /PRNewswire/ — Xinyuan Real Estate Co., Ltd. (“Xinyuan” or the “Company”) (NYSE: XIN), an NYSE-listed real estate developer and property manager primarily in China and in other countries, has become one of the first blockchain technology service providers in China. The Company is accelerating its innovation to enable the real estate industry and to win market recognition with the X-Bolts blockchain underlying technology platform and key products such as Golden Bricks and Conbow.
Laying out the underlying technology of blockchain
After experiencing bubbles and troughs over the past two years, the blockchain industry has begun a new round of fast growth. If capital was the key driver for the development of the blockchain in the initial stage, then technical capability has become the core competitiveness of the blockchain in its next stage.
As one of the first real estate companies to invest in blockchain, Xinyuan’s technology business is one of the earliest developers in the underlying technology of the blockchain in China. As early as 2015, Xinyuan invested in Beijing Rchain to study the underlying technology of the blockchain, focusing on the BAAS (Blockchain As A Service) platform based on the blockchain technology, which is highly expandable, simple in process and self-controllable.
Rchain is one of the first five enterprises in China to pass the blockchain standard test by the Ministry of Industry and Information Technology. The company participated in the preparation of the blockchain standard organized by the Ministry of Industry and Information Technology in 2016, and led the preparation of the Legal Policy Research Report on the Application of Blockchain in the Financial Field, filling in the gap of legal policy support for blockchain application in the financial field.
For Rchain, R&D capability and innovative application are the foundation that drive its growth. Its R&D team led the development of the X-bolt…