Why Xunlei Is Looking Promising For Blockchain 3.0 And Beyond in 2018


Xunlei is a publicly traded Chinese company. The company recently reported revenue of US$78.8 million for its first quarter in 2018, a rise of 117.9 percent on a year-on-year basis, with significant growth coming from its computing cloud business.

That’s nothing to laugh at, but aside from that, the company has a patented blockchain technology that is looking promising for the current state of Blockchain and beyond.

On May 16 of this year, in Beijing Xunlei released two new products:

  • An integrated cloud service with the concept of sharing economy StellarCloud
  • An open blockchain applications platform ThunderChain Open Platform.

The company is currently looking to double down on both technologies and looking to advance more in the blockchain market.

Xunlei’s been in the game

Xunlei isn’t a newbie to the blockchain industry. They’ve been around since Blockchain 1.0

It has developed a revolutionary open Blockchain platform dubbed “ThunderChain” to take the industry by storm.

The company says ThunderChain utilizes a breakthrough in the limitations of Blockchain smart contracts to solve complex problems facing industries like the financial, supply chain, healthcare, and public services.

Xunlei regards ThunderChain as Blockchain 3.0 since it is created to involve individual users and make a great impact on their daily work and life. Xunlei was, therefore, hoping to establish a high-performance ecosystem.

And ThunderChain has been specifically created to focus on applications related to entertainment, copyrights and food safety particularly on issues regarding traceability and transparency.

Over a year back, Xunlei launched a blockchain-based personal cloud computing service called OneThing Cloud that helps consumers share their idle computing resources into a massive enterprise cloud computing infrastructure.

Over 1.5 million consumers are participating in Xunlei’s cloud computing infrastructure, providing their computing resources for China’s largest video streaming, entertainment and internet companies, such as XiaoMi, iQIYI, PandaTV, and Kuaishou.

Through a shared computing model, Xunlei helps these enterprises significantly reduce costs in bandwidth and computing.

The current state of Xunlei’s blockchain technology

ThunderChain is now open its APIs to third parties, promoting the development of applications that serve for a large user base. Xunlei introduced measures including investment, incubation, and mentorship to help blockchain startups to build their business within its ecosystem participated by over one million active users.

These include grants of 300 million LinkToken to ThunderChain developers that they exchange for cloud services or execution gas. According to Xunlei, the 300 million LinkToken was originally planned for the operational purpose, but now the firm would like to give all of them back to lure developers and startups to build their business on ThunderChain.

Ultimately, both startups and end users could benefit from the blockchain, taking the technical development to another level.

Expanding beyond China

In April, Thai government invited Xunlei to collaborate on several Blockchain initiatives as part of their country’s expansion into blockchain technology. Thailand wants to leverage Xunlei’s Blockchain infrastructure on two main digital projects, which includes their Digital ID System and Smart City, by leveraging ThunderChain’s high-performance and stable concurrent processing capability to record, analyze and manage billions of data points more efficiently and safely.

This is quite similar to how a lot of companies in China are leveraging Xunlei’s blockchain technology.

Conclusion

Xunlei is looking solid for the current state of Blockchain 3.0 and beyond.

For Xunlei, it continues to put innovation and customer value high on the list of strategic priorities, while the financial goal as stated by management recently is also to improve the bottom line and deliver on the margins to drive growth.

Regardless, the customer is always the king here. With a new blockchain ecosystem, Xunlei should keep focusing on both enterprises and personal customers to achieve a long-term growth in the era of Blockchain 3.0.

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Wilson

Wilson is a 3x Startup Entrepreneur. He is passionate about the cryptocurrency space. You can catch him tweeting about cryptocurrency often @itswilson8 You can also email Wilson directly at wilson@cryptomenow.com

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