Blockchain for Content in the Cloud: LeFinance & Stellar Partner to Improve Efficiency for Billions
LeFinance, a division of LeEco, the technology and content titan out of Beijing, has partnered with the Stellar Development Foundation to improve the connectivity and reach of various LeEco businesses.
Stellar is a key part of their “LeFinance Blockchain Lab” strategy, launched in March 2016. LeFinance Blockchain Lab focuses on implementing distributed technology across LeEco divisions.
LeFinance will not only use the Stellar network for cross-border payments but also to monitor credits for usage across their various devices and platforms, offering customers a faster experience while providing a reliable, scalable accounting system for content in the cloud.
“As an Internet ecosystem company, we’re eager to use Stellar’s cutting-edge blockchain technology to enable a seamless experience for billions of customers,” said Mr. Wang Yongli, Chief Executive Officer of LeFinance.
With key products in mobile, virtual reality, television, and investments in connected fitness, autonomous vehicles and a film studio, LeEco is driving innovation in nearly every sector with its community and demand-driven approach to product development. Their latest mobile offering, the Le Pro3, topped 3.5 million pre-orders in China in 24 hours.
“We’re thrilled to expand Stellar’s reach to China, and impressed by LeFinance’s forward-looking approach to product development and content delivery,” says Stellar CTO and Co-founder Jed McCaleb.
The agreement with LeFinance is part of Stellar’s growing presence in Asia and comes on the heels of Jed McCaleb’s keynote presentation at Blockchain Summit in Shanghai in September 2016.
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