Speaking at Fortune’s Global Tech Forum in China last week, one panelist outlined the roadmap to a blockchain future. Lei Chen, CEO of Xunlei Technology, said that a $30 billion blockchain company is not impossible, but it must meet three big milestones:
- One million transactions per second.
- One “somewhat unified, well-thought-out regulation framework.”
- A blockchain application with 10 million users.
This combination of factors could trigger the first major breakthrough company in the blockchain space.
Chen says her company’s blockchain platform, ThunderChain, is capable of the necessary transaction speed by harnessing the unused processing power of idle computers.
However, creating a blockchain application with 10 million users will be the largest hurdle. Current applications on the Ethereum blockchain, for example, struggle to reach 1,000 daily users.
Finally, Chen discussed the possibility of blockchain changing the way personal data is owned and shared with others. “Blockchain will challenge the data ownership models of today because data should be of the people for the people by the people.”
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