New Blockchain Partnership Aims to Pave the Way for Mass Adoption in China

A blockchain platform and a mobile gaming company have unveiled a partnership designed to benefit hundreds of millions of users.

High Performance Blockchain (HPB) has announced it is the first public chain to team up with gaming company Shanghai Youwan — paving the way for widespread adoption by the customers of some of China’s biggest brands.

According to HPB, this integration means that its coins can be converted into in-game currency that can be used on an array of titles. Players will also have the freedom to make conversions into in-game credits compatible with all companies under the Ping An Group, such as Ping An Bank and Ping An Insurance. Compatibility will also be achieved with China Telecom, China Mobile, China Unicom and JD.com.

Through the partnership, Shanghai Youwan’s mobile games will be connected with the HPB wallet, expanding the ecosystems of both parties. As a result, a broader number of apps and companies will be able to use HPB coins and benefit from what the scalable blockchain has to offer.

Bringing blockchain into people’s lives

Shanghai Youwan has a base of millions of users, with 300 employees developing 20 new games a year for the public to enjoy. The cross-platform, multiplayer service has accrued more than 800 million accounts since launch, with the company striving to deliver innovation in gameplay as well as the in-game economies and financial models that players interact with.

According to HPB, the collaboration is a “great stepping stone” in normalizing distributed ledger technology and making it an everyday part of people’s lives. The company says that “an immense portion of the public” are going to be exposed to the company’s blockchain as a result of the partnership — and in time, both businesses hope to work together more closely in other sectors, such as health care, food, housing and transportation.

Next steps

HPB and Shanghai Youwan are now moving on to the development and implementation phases of their relationship — and capitalizing on the synergies between their respective platforms. Security, scalability and flexibility were listed as key priorities at the start of the partnership.

“The scope of this partnership, and initiatives at hand is another signal that is showing the world that blockchain adoption is happening, and the potential it has to be integrated into our daily lives,” the companies said.

Looking ahead, the business partners are hoping to explore the untapped opportunities that lie in big data management. HPB believes its solutions are going to provide an additional layer of security in Shanghai Youwan’s data, and help the company cater to user demand and consumption preferences far more effectively than it did before.

Building a stronger platform

HPB says it has now attracted more than 70 partnerships and decentralized applications (DApps) across a broad range of industries, including fintech and infrastructure — with each partner bringing unique strengths that help its platform thrive.

The blockchain company previously struck a deal with UnionPay Smart, the big data arm of the Chinese financial giant. Their collaboration has been designed to help the company, which beats Visa and Mastercard to claim the title of the world’s largest card payment organization, enhancing communication between stakeholders through the use of blockchain’s authorization and traceability.

HPB has also secured links to global policymakers at the G-20, the World Economic Forum, the Asia-Pacific Economic Cooperation and the Organization for Economic Cooperation and Development by establishing a partnership with the SME Forum run by the International Finance Corporation. The platform says it has been engaging in “close discussions with thought leaders and policymakers about the potential applications for blockchain technology for the betterment of society.”