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August 2, 2018 Updated

Technology company Xurpas Inc is expecting to leverage blockchain technology across all its businesses.



Technology company Xurpas Inc is expecting to leverage blockchain technology across all its businesses.

In a disclosure sent to the Philippine Stock Exchange (PSE), Xurpas ($X), posted an income Php 102 million for 2017. This is more than half of the previous year’s posted income of Php 264 million. Some of the losses were due to bad accounts, which are affected by “adverse digital marketing conditions”. Other reasons include one-off expenses and acquisitions.

Xurpas’ focus for this year is to improve its revenue mix and grow the business in new industries and territories.

Xurpas made a brief mention of the blockchain in its disclosure to the PSE. According to Nix Nolledo, CEO of Xurpas, the company is expected to leverage the blockchain for usage in all of its businesses.

Xurpas did not elaborate further on the topic. Mr. Nolledo serves as an advisor to another coin offering – Alto, a decentralized platform for gaming developers. Alto is a blockchain offering from Altitude games, which is part of the Xurpas group.

Late in 2017, Inquirer, a leading newspaper in the Philippines, published “On Xurpas and Cryptocurrencies”, leading to some speculation that the technology firm is currently working on cryptocurrencies. Being a mobile developer, working on the blockchain seemed to be within the firm’s tech resources. Xurpas’ stock, which is represented by the code “X” in the PSE rallied from Php 4.75 to Php 5.28 on December 15, 2017, the date the article was published. On the same day, Mr. Nolledo clarified that the company is not yet involved with cryptocurrencies and the blockchain.

On March 12, 2018, Mr. Nolledo’s keynote at “Cryptocurrency: The Truth and the Myth” event by SharePhil Philippines, is entitled “Trust Economy: Blockchains and Cryptocurrencies”.

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