A Chinese Blockchain firm, Xunlei has published its Q3 financial report where they have mentioned having an increase of revenue up to $45.3 Million in 2018.
The Firm has started since 2013, According to their data published they compare from Q3 of 2016 to 2017 where there was an increase of revenue also from Q3 of 2017 to 2018 also had an increase of 1.1%. Thus making a revenue of $45.3 Million in Q3, 2018.
ThunderChain, blockchain platform developed by Xunlei has been released recently. Also, the firm has partnered with some of the Biggest media and news industries in China.
In the Q3 of 2018, the company is focusing on the development of ThunderChain said Chen Lei, CEO of Xunlei. Also, they have increased their investment on the blockchain. And the firm is working on making more partners.
Lei also added that,
“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 more cost-effective manner.”[Translated]
In August, despite several foreign cryptocurrency exchanges to be banned by China. Still, Xunlei launched two more blockchain products, StellarCloud and ThunderChain. And in Q2 their revenue was $65.8 million.
Several blockchain companies are growing in China. Maybe this is due to the initiative by the Chinese Government to start Blockchain investment development center.
Other regions must come up with a similar initiative which will help the blockchain companies to grow in their country.