Users' privacy protection is seen as a problem faced by today's Internet development, which has been discussed at a Summer Davos event. Chen Lei, CEO of Xunlei, said that developing and applying technology such as blockchain to the very basic network fabric will help solve the problem.

"We use algorithms, we use coding, we use protocols to regulate the Internet, making sure that data privacy and information credibility are the fundamental properties of the Internet," Chen told CGTN.

Chen said that "China as a whole" is in pretty good shape in terms of the blockchain technology, adding that Xunlei has made breakthroughs in the performance of blockchain.

Meanwhile, the CEO is positive that blockchain technology can be applied to everyday life in the future. "We are seeing [it] right now," Chen told CGTN.

Last year, Xunlei launched ThunderChain, a high-performance blockchain platform, which can concurrently conduct millions of transactions per second. The transaction rate of ThunderChain is higher than the peak transaction rate of Double Eleven Festival on T-Mall platform, according to the CEO. Chen also revealed that one application of ThunderChain has seen the volume of transaction increasing ten times in the past couple weeks.

Therefore, he emphasized that "the technology is ready", but acknowledged that some issues are waiting for solutions.

"The digital currency is anonymity. The bitcoin of the U.S., Israel, and so on, they all have problems with privacy," he was concerned. From Chen's perspective, digital currency is equivalent to cash, which is anonymous and protecting users' privacy.

"To do that, you need zero-knowledge proof. Right now, we are trying to break through in that domain as well, to build the fastest the blockchain that both have tremendous speed and protect anonymity and privacy of the users," he continued.

The other challenge that countries all over the world are facing is misinformation, which "deliberately targeting users in different countries on the Internet," Chen stated.

Moreover, on the first day of Summer Davos, panelists were discussing whether multiple technological standards in the world can be acceptable. Major said no, while Chen considered both multilateral approach and competition towards standardization are necessary.

In his point of view, the technological standard is a fundamentally multilateral approach to get a consensus of the direction that technology is going. "But in the same time, there is also healthy competition," he stressed.

"We need to seek opportunities in the technological revolution areas. It gave China opportunities to participate, and sometimes lead the new technological standards," Chen told CGTN.