The Investing News Network (INN) caught up with Kevin Hobbs, CEO of Vanbex Group, at the CanTech Investment Conference in Toronto to discuss what some of the biggest trends have been in the sector so far this year, and what investors should be cautious of when companies add ‘blockchain’ to the title of their company.
Similar to the cannabis rush of (recent) years past, the last year or so has seen an influx of interest in the blockchain sector, with more and more companies jumping on the bandwagon in adapting its technologies.
At the CanTech Investment Conference in Toronto on January 31, Kevin Hobbs–CEO of Vanbex Group–spoke with the Investing News Network (INN) and echoed that statement, commenting that some of the biggest trends he’s seen have been how many other industries are stepping foot into the blockchain sector.
“Some companies [are] coming in and changing their name from one thing to blockchain just to grab the hype, and then [there are] other companies who are getting in for real-world applications because they see the benefits of this” he said. “We’re going to see a big leap this year in companies changing their current ways of business to adapt to blockchain.”
At Vanbex Group, the company that specializes in consulting, communications, and development for blockchain businesses. When asked about what investors should know about or consider when companies suddenly make the switch to blockchain, Hobbs said to do proper due diligence.
“It’s simple. Look at the founders, look at the technology–do they need blockchain? Do they need a token? If they do, does that token attach to their business model? Do they have technology?” Hobbs said. “Can they really try and solve the problems that they’re trying to solve?”
To find out more of what Hobbs had to say about companies adapting to blockchain and where Canada will fit into the global blockchain space moving ahead, scroll up to the top of the article to watch the interview.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.