Many industries are adopting blockchain technology faster than anticipated. Here’s a look at blockchain technology stocks.
Cryptocurrencies had a less than stellar year in 2018, with Bitcoin dropping 74 percent and Ethereum, Litecoin and Ripple declining even more over the course of the year.
Even so, investor interest in blockchain technology remains strong. According to the World Economic Forum, in the next 10 years, blockchain platforms are projected to store 10 percent of global gross domestic product.
Boston Consulting Group’s Zia Yusuf notes in Barron’s, “The combination of blockchain, the internet of things (IoT) and artificial intelligence (AI) for optimizing supply chains is profoundly exciting. In certain industries with complex supply chains and thin margins, applying the combination of these emerging technologies to logistics and supply functions has the potential to be a real difference maker.”
With JPMorgan (NYSE:JPM) announcing the release of its JPM Coin and users now able to pay for services with crypto assets on Airbnb and Netflix (NASDAQ:NFLX), the business sphere continues to take shape.
Against that backdrop, the Investing News Network has put together a list of publicly traded blockchain companies for investors to consider. They are listed in alphabetical order and had market caps between C$10 and C$600 million at the time of publication.
1. Atlas Blockchain Group (CSE:AKE)
Market cap: C$14.37 million; current share price C$0.12
Atlas Blockchain Group (CSE:AKE) is a blockchain-mining and technology company that secured C$5.2 million in financing in January. The funds will be used to acquire all of the issued and outstanding shares of Isracann Biosciences. Located in Israel, Isracann Biosciences has rights to cultivate 230,000 square feet of cannabis production.
Atlas projects that its mining capabilities will reach 2,550 application-specific integrated circuits (ASICs) by the second quarter of 2019. With existing power proximal to the Grand Coulee Dam in Washington, Atlas has projected electricity prices of $0.034 per kilowatt hour in 2019.
2. BLOCKstrain Technology (TSXV:DNAX)
Market cap C$27.67 million; current share price C$0.34
BLOCKstrain Technology tracks intellectual property for the cannabis sector. It uses comprehensive quality control testing to streamline the process for cannabis producers with the BLOCKStrain Certificate of Authenticity.
BLOCKstrain also signed a letter of intent with NXT Water to develop AKESO Functional Fitness Water. As a CBD-infused beverage, this partnership is aimed at further propeling BLOCKstrain’s software into niche markets. Earlier in the year, WeedMD (TSXV:WMD,OTCQX:WDDMF), also a medical cannabis producer, applied BLOCKstrain authentication to 40 strains.
3. Cobalt Blockchain (TSXV:COBC,OTCQB:COBCF)
Market cap: C$17.51 million; current share price C$0.10
Cobalt Blockchain, a resource and development company with a 12 year history in trading cobalt, has co-developed Mintrax, a blockchain-driven mineral supply chain. The joint venture, in partnership with DLT Labs, was announced in August of last year. Mintrax was established to deploy a secure and transparent supply chain built on IBM’s (NYSE:IBM) Hyperledger Fabric Framework.
In March, Cobalt Blockchain announced the completion of a C$1.3 million private placement offering to finance exploration activities and the establishment of lab facilities, among other things.
4. DMG Blockchain Solutions (TSXV:DMGI)
Market cap: C$18.16 million; current share price C$0.18
DMG Blockchain provides diversified blockchain services, including wholly owned power stations and the Walletscore and Blockseer platforms.
The company’s hosting operations, located in Eastern BC, are among the foremost in North America. It can currently host up to 50,000 ASIC miners. Its mining-as-a-service business is involved in several discussions regarding its hosting services. DMG notes that its power supply does not interfere with local populations’ power availability.
Walletscore, released in October 2018, is an anti-money-laundering blockchain tool that also acts as a crypto credit score. Its typical clients range from payment platforms to crypto exchanges.
Blockseer is used by over 6,000 participants, including the FBI, the IRS and crypto exchanges. Developed to track and visualize Bitcoin and Ethereum, Blockseer allows users to track address clusters while determining the validity of a transaction.
DMG’s acquisition of Datient in 2018 further added to its portfolio with real-time compliance features.
5. DigitalX (ASX:DCC)
Market cap: AU$23.5 million; current share price AU$0.04
DigitalX provides services that include initial coin offering advising, token advisory services and AirPocket, which allows secure transfers of funds. In addition to these services, DigitalX runs an unlisted fund of the top crypto assets that has shown superior returns over the top 10 crypto index, according to the company’s year-end 2018 report.
DigitalX also operates Coincast Media, a blockchain media service that provides news and educational content for a core marketplace of viewers aged 18 to 34.
6. Global Gaming Technologies (CSE:BLOC.U,OTC Pink:BLKCD)
Market cap: C$21.18 million; current share price C$0.18
After a name change from Global Blockchain Technologies in February, Global Gaming Technologies secured a US$5.2 million financing deal from Alpha Blue Ocean in March. The financing helped the company publish its first murder-mystery game, St. Noire, which was developed by X2 Games. The game is powered by Amazon’s (NASDAQ:AMZN) Alexa, and is the first board game to be driven by the AI assistant.
The day after its announcement, Global Gaming began accepting pre-orders.
7. HIVE Blockchain (TSXV:HIVE,OTC Pink:HVBTF)
Market cap: C$177.51 million; current share price C$0.53
In January, HIVE Blockchain received regulatory approval to increase its ASIC capacity by 50 percent, reaching a mining capacity of 300 petahashes. In conjunction with Genesis Mining, HIVE mines cryptocurrencies, including Bitcoin and Ethereum, to further expand its crypto portfolio.
In its third-quarter report for the period ended December 31, 2018, HIVE noted that it mined 28,343 new Ethereum within the quarter, increasing production by 45 percent. Additionally, HIVE mined 784 new Bitcoin for the period. HIVE currently owns four data centers in Sweden, Iceland and Norway.
8. Interbit (TSXV:IBIT,OTC Pink:BTLLF)
Market cap: C$25.35 million; current share price C$1.06
Interbit provides megachain solutions to overcome the limitations of single blockchain applications. With plans to operate with over 1,000,000 blockchains at once, the company’s Interbit platform is designed to be more agile in its applications for the healthcare, transportation, fintech and social credit industries. The platform is planned to be completed in early 2019.
Interbit has previously worked with Visa Europe in exploring new ways that blockchain can be applied within the fintech arena, including cross-border settlement solutions.
9. Kontrol Energy (CSE:KNR)
Market cap: C$22.38 million; current share price C$0.78
With energy-saving technology in over 500 buildings and over 1 billion kilowatt hours of electricity reduced annually, Kontrol Energy’s software is designed to improve energy efficiency and reduce greenhouse gas emissions. The company provides services for commercial buildings, the manufacturing industry and more.
Working in tandem with these systems, Kontrol Energy is developing blockchain solutions to curtail energy waste. In creating a distributed ledger system that tracks carbon emissions, the company is working to develop a carbon offset trading platform and GHGcoin designed to incentivize consumer spending in carbon reduction projects. A pending acquisition for the trading platform and GHGcoin was announced in February last year.
In March, Kontrol Energy and Toyota Tsusho Canada (TTCI) signed a joint venture under which Kontrol Energy will provide smart factory solutions to TTCI’s factories. TTCI said at the time that it is working towards improving energy management using Kontrol Energy’s IoT hardware and technical support.
10. Marathon Patent Group (NASDAQ:MARA)
Market cap: US$14.55 million; current share price US$0.57
With one mining facility in Quebec and more projected in the future, Marathon Patent Group is among the first cryptocurrency firms to be listed on the NASDAQ. With additional business activities such as IP licensing and IP acquisitions, Marathon generated US$1.6 million in revenue in 2018 at a 201 percent increase year-over-year. Cash and cash equivalents were at US$2.6 million at year end, with an operating loss of US$12.1 million for the year.
11. Northern Bitcoin (FWB:NB2)
Market cap: $124.23 million euros; current share price 16.40 euros
Northern Bitcoin is a bitcoin-mining company that runs exclusively off of hydropower. The company focuses on sustainable mining through the use of 100 percent green mining technology.
Northern Bitcoin’s data center is situated within a Norwegian mountain, where a nearby fjord is used to help cool down the company’s computers. Northern Bitcoin applies 39,690 ASIC chips and 2,835 terahashes to each container it operates. It currently runs 210 miners. Last August, Northern Bitcoin built its own mining pool, further propelling and scaling its growth. Northern Bitcoin reported over 1 million euros in revenue in its 2018 half-year report.
12. Overstock.com (NASDAQ:OSTK)
Market cap: US$523.13 million; current share price US$16.22
Overstock.com is among the first US retailers to accept Bitcoin on its platform. Overstock.com was founded in 1999 with the name Deals.com. Last year, Overstock.com reported annual revenues reaching US$452.5 million, a 1 percent decrease since 2017.
The annual report further notes the introduction of tZERO, a security token trading platform. As Coindesk reports, accredited investors can trade tokens through broker-dealer Dinosaur Financial Group. The tZERO security token offering raised US$134 million in August 2018, according to CryptoVest.
In addition to its tZERO token, Overstock.com has developed Medici Ventures, a subsidiary that invests in blockchain ventures spanning from finance to agriculture. In December 2018, Medici Ventures acquired a US$2.5 million stake in GrainChain, an agricultural blockchain company that tracks the distribution of harvest production.
13. RESAAS Services (TSXV:RSS,OTCQB:RSASF)
Market cap: C$11.26 million; current share price C$0.18
RESAAS Services provides the real estate industry with cloud-based, blockchain powered software. Connecting over 460,000 real estate brokers worldwide, RESAAS’s RealTime MLS platform allows brokers to share listings and referrals in real time.
In February 2018, RESAAS acquired Real-Block, a Toronto-based blockchain firm. Last May, a licensing agreement was secured with the Toronto-based REIN Group of Companies, which has over 155,000 registered investors. Realty Universal, with a network of over 6,000 brokers, additionally signed a licensing agreement with RESAAS last July.
In January of this year, RESAAS signed an agreement with boutique firm LEGACY Council of Canada to enable licensing for its real estate investors.
This is an updated version of an article originally published by the Investing News Network in 2016.
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Securities Disclosure: I, Dorothy Neufeld, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Cobalt Blockchain, BLOCKStrain Technology, Kontrol Energy and RESAAS Services and Harvest One Cannabis are clients of the Investing News Network. This article is not paid-for content.