5 blockchain firms to consider for investing

By @chelean on
Post-it notes are displayed in the UBS "fintech lab" at Canary Wharf in London, Britain, October 19, 2016.
Post-it notes are displayed in the UBS "fintech lab" at Canary Wharf in London, Britain, October 19, 2016. Reuters/Hannah McKay

Despite scepticism on the stability of the blockchain system, the technology is already being used by some major banks across the world as the technology expects robust growth in the next few years.

According to a study by Markets and Markets Research published December 2017, the blockchain market is forecast to balloon to US$7.683 billion (AU$9.94 billion) by 2022, nearly four-fifths from US$241.9 million (AU$312.91 million) in 2016. This translates to a compound annual growth rate of 79.6 percent.

The study cited the lowering cost of blockchain business ownership, rising demand for blockchain, the booming market price cap of cryptocurrencies and initial coin offering as pushing the industry upward. In addition, these demands rise the growing need for simplified blockchain business methods that can provide faster transaction with more transparency.

As such, more companies are emerging to join the wave of profit. Here are some companies that are making a name in the business.

360 Blockchain

Now with a market cap valued at $27.58 million, the firm started operations on 10 October 2017. Previously named 360 Capital Financial Sevices Group, 360 Blockchain provides financial services to both private and public companies.

Last month, the company said it has obtained 60 percent of the issued and outstanding shares of Silicon Valley-based SV CryptoLab Inc for US$250,000 (AU$323,390). This move allowed 360 Blockchain to mine coins and Z cash. 360 Blockchain was given the option to purchase the remaining 40 percent for US$75,000 (AU$97,020). As such, the firm released 5 million common shares from its treasury as consideration.

The firm has also inked a joint venture with Nerds on Site subsidiary NOS Blockchain.

BTCS

BTCS is the first blockchain-focused public company in the US. At present, the firm is valued at about US$24.47 million (AU$31.65 million) with a current stock price of US$0.12 (AU$0.16) per share.

In August, the firm revealed signing a non-binding letter of intent to merge with Australian blockchain company Blockchain Global Limited. However, last month, BTCS said its board was united in voting to assess the possibilities of merging with other firms. But it emphasised that the merger with Blockchain Global still stays, a few months after announcing that it has completed financing needed in its merger with the Australian firm.

Global Blockchain Technologies

Global Blockchain Technologies Corp. (OTCMKTS:BLKCF, TSXV:BLOC), formerly known as Carrus Capital, changed its name October last year. Founded in Vancouver in 2010, the firm is an investment company that offers clients a selection of growth-potential assets in the blockchain space. Global Blockchain Technologies offers investors an in-house innovation incubator to maximise the potential of new blockchain technologies.

The firm also provides resources such as initial capital, technical development personnel, and legal support to propel the growth of blockchain technologies.

Last February 13, the firm said it has completed its acquisition, through a three-corner amalgamation of Coinstream Mining Corp., including all its assets. The firm now owns Coinstream Mining’s Manitoba joint venture facilities, which have a 50 megawatt (MW) capacity; Mozambique facility with 25 MW of capacity; and a 25 percent stake in Distributed Mining Inc., which is a blockchain software company creating software that enables all devices to have the ability to participate in mining cryptocurrency.

The company also recently revealed in a press release that shareholders will be entitled to double the amount of their BLOC shares on top an equivalent number of Global Blockchain Mining Corp. shares after a scheduled stock split and spinout. What this means for investors is that they will have a good opportunity for profit right in front of them.

BTL Group

Based in Vancouver, the BTL Group also has operations in Calgary and Canary Wharf in London, England. To date, the blockchain solutions provider is capped with a market price of US$234.52 million (AU$303.36 million).

BTL ledger platform is called Interbit which is nearing completion to be rolled out commercially. In June last year, the firm announced the completion of its 12-week European energy trading pilot with BP, Eni Trading & Shipping, and Wien Energie. The pilot test proved that Interbit can streamline many trading and back office processes across the energy trade lifecycle.

If Interbit is successfully applied to each of BTL’s existing systems, it will integrate the firm’s energy trading solution into live environments.

BTL is now calling out on energy company clients and non-clients to join the six-month go-to production phase, where BTL and participating companies would work to launch a live, commercial version of the energy trading solution.

Coinsilium Group

Last but not the least is Coinsilium Group, a London-based blockchain technology investor that develops and invests in blockchain technologies, aiding new fintech applications. The company is the world’s first recognised IPO for blockchain technology company and lists on the NEX Exchange, a recognised investment exchange as per the Financial Services and Markets Act 2000.

The company started out in 2014 as an accelerating seed-stage blockchain tech ventures before entering the blockchain market with interest initially drawn to firms like Factom, RSK Labs, Minebox and Indorse. It has been active in the past few months, engaging in deals and share acquisitions.

In August last year, the company expressed forming its wholly-owned subsidiary, Terrastream. The following month, Coinsillium has purchased 5 million shares at 2.25 pence (AU$0.04) per share. By November, the company inked a deal with United Mobility Technology. Also in November, Coinsilium acquired a 30 percent interested in StartupToken Limited, which drove up growth in the company.

Article from press release sent for consideration.