The revenue report of the Chinese blockchain-based software company Xunlei is in today’s blockchain news where you can see that the company’s revenue increased this year after they introduced blockchain services.
According to the report, the company’s Q3 revenue reached $45.3 million which is an increase since last year by 1.1 percent. The company also added $19.8 million of the revenue to its cloud services which is also an 8.3 percent increase since 2017.
CEO of Xunlei group, Lei Chen noted:
“We believe that blockchain is a technology that can change our lives, and we will strive to make it available in different areas in a simpler and more cost-effective way.”
Xunlei is known for its P2P software and BitTorrent client which is very popular in China, have turned to blockchain technology development in 2017. Before they turn to the blockchain, the company was facing a downturn for more than 2 years. After implementing blockchain, Xunlei became the best performing stock on Nasdaq with more than 70 percent in shares.
However, in November 2017, Xunlei was under scrutiny from the financial regulator in China after the state ban on ICOs which led to a 40 percent drop in shares. Despite this however, Xunlei launched two new blockchain based products and increased its revenue incredibly.
In 2018, according to a report from Cointelegraph, Xunlei partnered with People’s Daily to create a technology innovation laboratory in order to develop a blockchain-based platform for organizing seminars and workshops.
Other companies around the world published their Q3 2018 Report where they record historical performances with high percentage incensement.
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“a) exchange between crypto assets, b) transfer of virtual assets, and c) participation in and provision of financial services related to an issuer’s offer and/or sale of a crypto asset.”Cyprus is one of the seven EU member countries that have already released a declaration that aims to promote the use of DLT in the region. Last fall, the national investment partner in the country, Invest Cyprus, signed a Memorandum of Understanding with VeChain Foundation from Singapore in order to work on multiple national level investment strategies that will be blockchain based.
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“Blockchain technology has established a highly mutual trust data sharing mechanism among tax authorities, invoice service providers, taxpayers and other parties. This is a major reason for the tax authorities to take a new step in deepening the [technological] reform [by] the distribution services.”Back in December 2018, one of the bigger cities in the Guangdong province-Shenzhen announced its success story of how blockchain technology helped with the tax invoices via the messaging app WEChat payment platform. Also, last year in November, the capital of the Guangdong and one of the most developed economic zones in China, Guangzhou, was chosen as a headquarters city for the new blockchain alliance. The alliance involves 54 different companies and is promoting blockchain technology in finances and trading. Countries around the world are opting for blockchain-based tax solutions because of the higher efficiency and transparency.
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