Banks, financial institutions and many others are adopting blockchain technology faster than anticipated. Here’s a look at companies in the space.
It’s no secret that the popularity of blockchain has been on the rise thanks to financial institutions adopting it as well as other industries implementing this revolutionary wave of technology.
A Research and Markets report indicates that the overarching global blockchain market will grow from $411.5 million in 2017 to a staggering $7.68 billion by 2022, increasing at a compound annual growth rate (CAGR) of 79.6 percent during that time.
Fueling that growth, the report says, will result in “increasing demand” for simplified business processes, transparency and immutability, quicker transactions, and blockchain-as-a-service.
The importance and adoption of blockchain for communication service providers, transformation of international trade and supply chain management, new breed for programmable blockchain platforms and “high adoption” of blockchain for payments, smart contracts and digital identities are key factors that have potential to add to that market growth.
Putting it simply, there’s a wealth of opportunity to be had in the blockchain industry, and it’s only getting started. More and more companies are making their way onto the scene as well, presenting a wealth of opportunity for investors keen on the space. Here is a look at publicly listed blockchain technology stocks for your consideration. All numbers and figures below are current as of May 22, 2018.
1. 360 Blockchain (CSE:CODE)
Market cap: $14.56 million; current share price: $0.09
The first on our blockchain technology stocks list is 360 Blockchain, formerly 360 Capital Financial, that changed its name to 360 Blockchain and began trading under the symbol CODE on October 10. Since going public, the company has announced a joint venture with NOS Blockchain, a subsidiary of Nerds on Site, that its acquisition SV Cryptlab entered into contracts to mine ethereum and Zcash, and the establishment of 360 Blockchain USA, a subsidiary to focus on developing and investing in blockchain technologies in the US.
In mid-January, 360 Blockchain announced it had completed its 60 percent acquisition of the issued and outstanding shares of SV CryptoLab, with the option of purchasing the remaining 40 percent for $75,000. In more recent news, the company announced on March 20 that it had begun a cryptocurrency hedging development program through its majority-owned subsidiary, SV Cryptolab, which will be focused on blockchain solutions for hedging cryptocurrency against price deadlines. On that note, the company announced on May 7 that it had increased its ownership in the SV Cryptolab to 80 percent.
360 Blockchain looks to provide financial services to both private and public companies, including finance advisory, merchant banking, IPO consulting and business advisory services.
2. Atlas Cloud Enterprises (CSE:AKE)
Market cap: $95.27 million; current share price: $0.85
Atlas Cloud Enterprises is based in Vancouver, BC whose focus is becoming a top cryptocurrency mining and technology operations company in North America. Atlas owns its facility in Electric City, Washington, which is used for digital currency mining. The company is aiming to execute a proposed 1,700 application specific integrated circuit (ASIC) machine expansion this year, and increasing that number to 2,5000 by Q2 in 2019.
On that note, Atlas Cloud closed the acquisition of the Electric City facility on March 15. It is a 6,600-square-foot facility that will be upgraded to industrial-scale cryptocurrency mining standards. The company announced on May 17 that its 5 MW Grant County Data Center is almost completed and renovated into a dedicated bitcoin mining facility.
3. BLOK Technologies (CSE:BLK)
Market cap: $7.02 million; current share price: $0.20
BLOK Technologies, formerly known as Aida Minerals, invests in the development of emerging blockchain-based technologies in order to provide business solutions to niche industries. Its wholly-owned blockchain project called Greenstream is a blockchain-enabled supply chain management platform for the legal Canadian cannabis industry.
Under Greenstream, BLOK’s blockchain technology platform will work with licensed producers, online cannabis merchants, customers and government entities to transact, track, access, share and authenticate the legal cannabis industry. The company’s most recent update on the Greenstream came on April 30 when the company announced that it is embarking on an alpha release of Greenstream as it develops a “permissioned consortium network” that will enable licensed producers, retailer and regulators, to name a few, to “communicate, interoperate and transfer assets and value through the Canadian cannabis ecosytsem.”
4. BTCS (OTCMKTS:BTCS)
Market cap: $26.81 million; current share price: $0.07
Next on our blockchain technology stocks is BTCS. The company is also the first blockchain-focused public company in the US, and was ahead of its time in exploring digital currency ecosystems. The company self-describes itself as an “early mover” in the digital currency ecosystems sector.
CEO Charles Allen was interviewed by Bloomberg explaining the company’s mission to “gather a currency that can be spent on goods and services,” using bitcoin to buy products like televisions.
In August, BTCS announced it had signed a non-binding letter of intent to merge with Blockchain Global. On October 11, it was announced that BTCS had secured $1 million in financing, $250,000 of that being bitcoin. Near the end of October, BTCS announced it had closed the remaining finance balance in moving forward with its planned merger with Blockchain Global. In early January, however, a letter to BTCS’ shareholders was issued by the company’s CEO stating the board has “unanimously decided” to evaluate other potential merger markets, although stating the possibility that it may complete the merger with Blockchain Global.
5. BTL Group (TSXV:BTL)
Market cap: $139.74 million; current share price: $5.90
BTL is a Vancouver-based company that offers blockchain solutions across multiple industries–from banks to energy, and even to fantasy sports. BTL has a money transfer platform using distributed-ledger-technology and smart contracts, called Interbit.
In January, BTL Group announced a European energy trading project where four oil and gas companies and five energy traders will participate in using BTL’s Interbit blockchain platform to deliver gas trading reconciliation through to settlement and delivery of trades, called OneOffice.
The company’s most recent update on its Interbit platform came on April 23, where BTL Group announced that Interbit is “available for testing and feedback.” BTL Group expects that Interbit will be brought to full commercialization later this year.
While the company’s headquarters are in Vancouver, BTL Group also operates in Calgary and Canary Wharf in London, England.
6. Coinsilium Group (NEX:COIN)
Market cap: GB$9.08 million; current share price: GB$7.75
Coinsilium Group is a London-based blockchain technology investor that develops and invests in blockchain technologies, aiding new fintech applications. The company is the world’s first recognized IPO for blockchain technology company and lists on the NEX Exchange, a recognized investment exchange as per the Financial Services and Markets Act 2000.
Coinsilium has been actively involved in “accelerating seed-stage blockchain tech ventures” ever since 2014. Since then, the company has accumulated interest from blockchain companies such as Factom, RSK Labs, Minebox and Indorse.
It was reported in late January that Coinsilium is preparing to launch a private fund for digital tokens.
7. DigitalX (ASX:DCC)
Market cap: AU$77.75 million; current share price: AU$0.16
Next on our blockchain technology stocks list is DigitalX. The company provides ICO advisory services, blockchain consulting services, and blockchain-related software development.
More specifically, its mobile product AirPocket provides consumers secure cross-border payments and remittances from over 30,000 payout locations in 14 countries with a heavy presence in North America and South America. DigitalX’s Bankera launched an ICO on August 28, which will provide payments, deposits, loans, and investments and will be supported in fiat currencies and cryptocurrencies, including bitcoin, ethereum, DASH, NEM, and ERC20 compliant tokens, among others.
8. DMG Blockchain Solutions (TSXV:DMGI)
Market cap: $36.37 million; current share price: $0.39
DMG Blockchain Solutions is a cryptocurrency and blockchain company with two main areas of focus: mining public blockchains and applying the technology to address fraudulent behavior through supply chains.
The company’s products include: Bitscore, which defines the measures on transactions connecting any bitcoin to address disreputable networks; graph intelligence, which allows users to “follow the flow” of bitcoin through the blockchain both forwards and backwards in time; and market factors, which is provides a stream of blockchain market factors to power investor trading algorithms.
On May 17 the company announced that its blockchain and forensics analytics group will be expanding internationally into China, Panama and Japan, to name a few.
9. eXeBlock Technology (CSE:XBLK)
Market cap:$12.60million; current share price: $0.21
eXeBlock officially begun trading on the Canadian Securities Exchange on November 16, 2017. Headquartered in Nova Scotia, eXeBlock’s services include blockchain technology consulting, blockchain application development, and custom blockchain development.
In early January, the company announced that its exe50/50 decentralized application (DApp) was posted to TestNet, which the release states following the test phase, coding used in the its development will be made public on the Peerplays blockchain network. On May 1, the company announced the development of a blockchain sidechain that will allow bitcoin users direct access to eXeBlock’s decentralized applications being developed by third party developers.
10. Global Blockchain Technologies (TSXV:BLOC)
Market cap: $158.47 million; current share price: $0.49
Formerly Carrus Capital, Global Blockchain Technologies changed its name effective October 5.
Global Blockchain provides investment services and was founded in Vancouver in early 2010. More specifically the company’s goal is to provide the opportunity to capitalize on the growth of the blockchain ecosystem between holdings in existing technologies as well as technologies that don’t quite exist yet.
At the beginning of March, the company announced it had closed the acquisition of Coinstream, which had previously been announced in February, and includes a Manitoba joint venture facility, a Mozambique facility, and a 25 percent interest in Distributed Mining, which is a blockchain software company that enables devices to be able to participate in mining cryptocurrencies. On May 10, Global Blockchain announced an investment in the KODAKOne platform, which will officially start its $1.00 round of its offering of future tokens set to begin on May 21.
11. HashChain Technology (TSXV:KASH)
Market cap: $23.69 million; current share price: $0.22
HashChain officially went public late last year, December 18, 2017. This makes HashChain the first publicly traded cryptocurrency mining company to have filed a final prospectus in Canada. Its primary focus is on cryptocurrency mining with a target of 26,500 mining rigs. The company announced on January 24 that it had received a shipment of 770 mining rigs from China. Upon the expected deployment, HashChain will operate a total of 1.23 megawatts.
“The receipt of the 770 Rigs is another step to scaling our mining operations,” Patrick Gray, CEO of HashChain said in the release.
In mid-March, HashChain announced that its Balance cryptocurrency accounting software added support for Gemini, which is a New York state licensed and regulated digital asset exchange. The company will continue to advance that software with the newly added enhancements. On May 17 HashChain announced that its blockchain accounting software solution now supports the GDAX Exchange, which is a US-regulated digital currency trading platform supported by the New York Stock Exchange.
Based in Vancouver, British Columbia, Hashchain Mining is a subsidiary of HashChain Technology, located in Albany, New York.
12. HIVE Blockchain (TSXV:HIVE)
Market cap: $409.37 million; current share price: $1.25
HIVE Blockchain is also relatively new to the scene but is already making a name for itself in the market. HIVE looks to “build a bridge” between the blockchain market to traditional capital markets, and is strategically partnered with Genesis Mining, a cryptocurrency mining hashrate provider.
In late March HIVE Blockchain acquired Kolos Norway through the acquisition of another Norwegian entity and its intentions to build another data center. Similarly, the company provided an update to its Sweden mining facility at the beginning of May, stating it had increased the power capacity by 39 percent, which officially started mining at the end of April. The company announced on May 22 that it had officially closed the acquisition of Kolos Norway AS together with the 64-hectare property in Ballangen.
13. Marathon Patent Group (NASDAQ:MARA)
Market cap: $26.09 million; current share price: $1.35
While not a pure play blockchain company, Marathon Patent Group is an IP licensing and commercialization company that acquires and manages IP rights from a number of sources. Case in point, in early November the company announced it will acquire Global Ventures, a digital asset technology company that mines cryptocurrencies.
In January, Marathon Patent Group announced it had entered into an agreement to acquire blockchain and cryptocurrency transmission patents. In February, the company announced it had expanded its cryptocurrency mining operations with a second facility in Canada; by March, the facility in Quebec had begun its bitcoin-mining operations.
14. MGT Capital (OTCMKTS:MGTI)
Market cap: $87.11 million; current share price $1.24
MGT Capital is currently acquiring and adding to its diverse portfolio of cybersecurity technologies, but is also in the business of bitcoin mining. According to its website, MGT is in a strong position to become the “preeminent” crypto-mining enterprise in the US. As it currently stands, MGT Capital has a number of locations in central Washington state.
15. Neptune Dash (TSXV:DASH)
Market cap: $26.86 million; current share price: $0.34
Neptune Dash went public this year on January 22 on the TSX Venture Exchange.
Neptune Dash builds and operates the Dash Masternodes, which the company says is digital currency created to meet some of bitcoin’s scaling challenges. The functions of the Dash Masternodes on the Dash Blockchain include: private peer-to-peer transactions between parties; serving as a government function, voting on treasury disbursements of the Dash-block reward assigned to the Dash DAO (Decentralized Autonomous Organization) and providing transactions that are processed almost immediately on the Dash Blockchain.
This is an updated version of an article originally published on the Investing News Network in 2016.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: 360 Blockchain, BLOK Technologies, eXe Block Technology and HashChain Technology are clients of the Investing News Network. This article is not paid for content.