QLC Chain and Montnets Group (002123.SZ) [Montnets] announced the establishment of a new joint venture, to develop blockchain-based telecommunication services for enterprise-level adoption. Montnets is a publicly traded Chinese company that provides cloud communication services to hundreds of thousands of enterprise customers.
Montnets also has strategic partnerships with large Chinese companies such as Baidu, Tencent, Alibaba, Bank of China, Ping An Insurance Group, and China Merchants Bank. In addition to these partnerships, the cloud service provider also has long-term partnerships with China’s top three telecom providers: China Mobile, China Telecom, and China Unicom.
As a leading cloud communication utility provider in China, Montnets ecosystem of products includes IM Cloud, Video Cloud, IoT Cloud, and Digital Cloud. The IM Cloud is Montnets primary business market in China, though the company plans to expand into international markets. Additionally, Montnets seeks to further expand their Video Cloud platform for 5G and real-time communication (RTC), with a focus on video rendering. Their IoT Cloud has an efficient network operation and management process, with the capability to support over 100,000 connection points.
The partnership will “leverage QLC Chain’s innovative technology and Public Chain for decentralized telecommunication services to transform the Telecom industry”. As a company, QLC Chain seeks to enable individuals, businesses, and organizations to leverage their own network resources to become simple, secured, and transparent service providers.
The joint venture partnership was announced a week after QLC Chain’s release of their yellow paper, which describes its multidimensional block lattice architecture for multiple token issuance, the Shannon Consensus and Delegated Proof of Stake (DPoS) dual consensus model for distributed transaction validations, and smart contract support.
The full article on the strategic venture partnership can be read here:
For more information about Montnets visit their website.
For more information about QLC Chain visit the links below.
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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