Why Xunlei Ltd (NASDAQ:XNET) Is In Focus?

1290

During CES2018, Mr. Lei Chen, the CEO of Xunlei Ltd (NASDAQ:XNET), was invited to participate in the “Geek Night”, organized by GeekPark, to talk on the latest technology trends and to share the latest opportunities in crowd sourced computing grounded on blockchain technology.

The buzz

To Lei Chen, the CEO of Xunlei, the most remarkable part of this year’s event is integration. The latest trend of digital economy combining with the real economy was evident to see. Onething Cloud, exhibited by Onething at event, marks an intelligent hardware that integrates blockchain technology and crowd sourced computing. It is an exploration into the imminent period of cloud computing. As per the update, OneThing Cloud marks as a private cloud, offering people with quick storage, obtainable at any time, remote control, multimedia entertainment, file management and other activities. With Onething’s Reward Plan, it is even a crowd sourced computing node.

Xunlei reported that the core of the plan is to make use of idle computing resources with blockchain technology and crowd sourced computing, thus lowering its cost and enhancing social computing ability. The company launched a virtual digital asset named “LinkToken” that users can get as a free present by sharing their idle storage, computing, bandwidth and other resources. The use of blockchain technology warrants fairness, traceability and transparency of the sharing as well as use of resources.

Since 2014, the company has made a major first step towards international blockchain innovation and has become an icon of innovation in China’s cloud computing and blockchain industries. Chen, once mentioned in an interview that the technological advancements of China’s blockchain, sharing and cloud computing economy, after exported to adjoining nations, would help set an increasingly close and enhanced economic and social community network.

In the last trading session, the stock price of XNET declined more than 27% to close the day at $16.63.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.