Xunlei CEO: 'I’m not saying this is easy' but $30B blockchain company is possible

Layer 1s • November 30, 2018, 11:34AM EST
Published 1 hour earlier on
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Three numbers stand between the current state of play and the first blockchain company worth more than $30B, according to Xunlei Technology CEO Lei Chen: One million, one, 10 million. That cryptic code, Chen said, means first that a truly successful blockchain architecture must be able to "sustain one million transactions per second and can have a response time within seconds.” Chen says Xunlei's ThunderChain, which rolled out in April, can already do that in part by using spare capacity on numerous personal computers, according to a report in Fortune. As for the third number in Chen's code? "If there is a ten-million user application of blockchain today, we would be seeing the entire technology in a completely different light," she said, acknowledging the current bearishness around crypto and blockchain.

Still, Chen is optimistic, suggesting that blockchain will lead ultimately to user control over personal data: “Blockchain will challenge the data ownership models of today, because data should be of the people for the people by the people. I think 10 years down the road we’re going to see user data in the same way as intellectual property,” she said. (Source: Fortune)

About Author

John Biggs is an entrepreneur, consultant, writer, and maker. He spent fifteen years as an editor for Gizmodo, CrunchGear, and TechCrunch and has a deep background in hardware startups, 3D printing, and blockchain. His work has appeared in Men’s Health, Wired, and the New York Times. He runs the Technotopia podcast about a better future. He has written five books including the best book on blogging, Bloggers Boot Camp, and a book about the most expensive timepiece ever made, Marie Antoinette’s Watch. He lives in Brooklyn, New York. Disclosure: Biggs owns and maintains cryptocurrencies in a private account and has been consulting with startups regarding blockchain-based products. He also edits and writes for startup clients.

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