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Xunlei, a subsidiary of the Chinese blockchain, has released its third-quarter report indicating an increase in revenue. The company has specialized in the development of desktop software, but has recently started offering blockchain-based services.
In the report, Xunlei said it had a year-over-year revenue increase slightly higher at 1% to reach $ 45 million in the third quarter.
Why turn to Blockchain?
After the switch to the blockchain, services in the cloud and internet sectors recorded an increase of 8%, equal to $ 19.8 million of total revenues of $ 45 million. The report compared the revenues recorded in the same period of 2017.
According to Chen Lei, CEO, Xunlei Group:
"During this quarter, we have increased our investment in shared computing, blockchain, and deepened our partnership with our business partners Strategic relationship We believe that blockchain is a technology that can change our lives and we will strive to make blockchain technology available in different areas in a simpler and cheaper way ".
The report also mentioned ThunderChain, a blockchain product launched this year among other offers and partnerships.
Xunlei turned to distributed register technology at the end of last year, when its software development activities led to loss for two consecutive years. Link Tokens was their first blockchain product.
The token was to be used to purchase some services from Xunlei. This resulted in an increase of seventy-five percent of the company's share price on the Nasdaq stock exchange.
The price of its shares spiraled when the Chinese government banned the first coin offerings in November 2017. The ThunderChain Open Platform and StellarCloud products were subsequently launched at the start of 2018. In the second quarter, the CEO of Xunlei has shown a 70% year on year revenue growth.
Xunlei has signed a partnership with the country's leading media group, People & # 39; s Daily, to build a technological innovation lab. The collaboration will also see Xunlei and People & # 39; s Daily use blockchain to create a seminar, a competition and a workshop organization platform.
Furthermore, the third quarter of 2018 saw several companies linked to the crypto and blockchain realize an increase in their revenues. They include GMO Internet and Hut 8, a mining company based in Canada.
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