The Investing News Network profiles five companies on the Canadian Securities Exchange with a pure focus on blockchain.
With blockchain technology set to reach a staggering market size of US$16 billion by 2024, investor interest in the space has never been hotter — and Canadian companies are at the forefront of the industry’s blockchain development.
In terms of publicly traded companies in the sector, the Canadian Securities Exchange (CSE) has positioned itself as an epicenter for blockchain companies listing their common shares, making CSE blockchain stocks a hot commodity in the capital markets.
The CSE also launched a blockchain-powered platform in early 2018 — the first in Canada for clearing and settling securities by way of blockchain — further solidifying itself as a leading stock market in the Canadian blockchain revolution.
However, while there are many companies dipping into this ever-evolving industry, not all of them are purely focused on the development of blockchain technology.
Here’s a look at five stocks listed on the CSE that are directly involved in blockchain technology or have deep interests in blockchain applications and digital assets. The companies below are listed in alphabetical order had market capitalizations of over C$10 million at the time of publication.
1. BIG Blockchain Intelligence Group (CSE:BIGG)
Market cap: C$12.13 million; current share price: $C0.11
BIG Blockchain Intelligence Group has developed two patent-pending technologies, QLUE and BitRank, that are deployed through its forensic services division.
BitRank is a “risk scoring” application that provides visibility into a cryptocurrency wallet’s history. Through this platform, banks, money service businesses, exchanges, miners and bitcoin ATMs can identify, mitigate and report cryptocurrency transaction risks.
QLUE helps law enforcement and financial institutions detect fraudulent and criminal bitcoin transactions using advanced search algorithms.
The company has been listed on the exchange since June 12, 2017.
2. Hydro66 Holdings (CSE:SIX)
Market cap: C$34.29 million; current share price: C$0.27
Hydro66 Holdings is a business that offers scalable hosting services through its data center located in Boden, Sweden.
The company’s data center is completely powered by renewable energy and provides industrial wholesale power to meet the demands of blockchain miners. Hydro66 offers high-performance computing racks, cages and halls to supply power for blockchain companies. The power capabilities of its data center stood at 19.2 megawatts as of April 2019.
The company listed on the CSE on June 13, 2018.
3. NetCents Technology (CSE:NC)
Market cap: C$22.91 million; current share price: C$0.48
Cryptocurrency platform NetCents is a company that offers a streamlined and simplified platform for payment on the CSE. NetCents accepts and confirms blockchain transactions and eliminates delays in them. Through the release of its Risk Analysis and Zero Confirmation Technology, NetCents allows users to make secure cryptocurrency payments.
In May, NetCents partnered with inCruises to allow the company’s 135,000 travel members to pay for membership fees and cruise bookings with cryptocurrencies. “With the integration of the NetCents cryptocurrency merchant gateway, we are now able to do this and open our platform to a new membership base of cryptocurrency holders,” said Michael Hutchinson, founder and CEO of inCruises.
NetCents began listing on the CSE on March 9, 2016.
4. Victory Square Technologies (CSE:VST)
Market cap: C$19.51 million; current share price C$0.27
Victory Square Technologies is a blockchain-focused venture company that helps entrepreneurs implement blockchain solutions. The company has a portfolio of companies that spans virtual reality, artificial intelligence, personalized health, gaming and film.
The company has been listed on the CSE since June 9, 2017.
5. Vogogo (CSE:VGO)
Market cap: C$24.46 million; current share price: C$2.50
Rounding out our list of CSE blockchain stocks is Vogogo, which has cryptocurrency operations in Quebec and has been more or less involved in the cryptocurrency and blockchain spaces since 2013. Its initial focus was on cryptocurrency transactions and mining facilities.
Vogogo’s operations were suspended in 2016 and remained offline until April 2018, when the company resumed activities after making an acquisition that broadened its cryptocurrency mining activities.
The company listed on the CSE on January 19, 2018.
This is an updated version of an article originally published by the Investing News Network in 2018.
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Securities Disclosure: I, Dorothy Neufeld, hold no direct investment interest in any company mentioned in this article.