It’s getting harder to ignore the fact that blockchain is on the rise, particularly as more banks and financial institutions are adopting the technology faster than anticipated.
Case in point, IBM (NYSE:IBM) released a report in 2016 suggesting that 15 percent of all banks will be using the technology in 2017. By 2020, the firm states that 66 percent of all banks will have blockchain in commercial production.
On a broader scale, a Market and Markets report states that the blockchain technology market size will be worth 2.3 billion by 2021, increasing at a compound annual growth rate (CAGR) of 61.5 percent. In other words, there’s room for plenty of opportunities for investors to benefit from in this exciting–and expanding–market.
Global Blockchain Technology Market’s research report is a little more conservative, projecting that blockchain technology will grow at a CAGR of 55.59 percent between 2017 and 2021.
The banking and finance industries aren’t the only ones adopting blockchain technology. For example, it has been used in securing elections, and big companies are also making the leap into blockchain; Capital One has confirmed a blockchain project, partnering with Gem on healthcare claims.
Putting it simply, there’s a wealth of opportunity to be had in the blockchain industry, and it’s only getting started. As such, here is a look at publicly-listed blockchain technology stocks for your consideration. All numbers below are current as of October 11, 2017 at market close.
1. 360 Blockchain (CSE:CODE)
Market cap: $13.64 million; current share price: $0.12
The first on our blockchain technology stocks list is 360 Blockchain, formerly 360 Capital Financial, that just changed its name to 360 Blockchain and began trading under the symbol CODE on October 10.
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. BTCS (OTCQB:BTCS)
Market cap: $10.90 million; current share price: $0.11
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.
The company’s 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.
3. BTL Group (TSXV:BTL)
Market cap: $71.73 million; current share price: $3.76
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.
On that note, the company announced in June that it is “taking steps towards a go-to production phase” of the Interbit, having completed its European energy trading pilot. As noted in the press release, the 12-week pilot included building the framework on an energy trading confirmation solution to BTL’s platform, which was tested in 8 different scenarios.
“At BTL we truly believe that, by using blockchain technology and our proprietary platform, Interbit, there is a better and more efficient way for enterprises to build applications,” Guy Halford-Thompson, cofounder and CEO of BTL said. “Having demonstrated the reductions in risk and cost savings that are achievable we now have an opportunity to deliver the first successful blockchain based application to the energy market. We are also very excited that the pilot has enabled participating companies to better understand the benefits of Interbit and identify other areas in their organizations where they can apply it.”
At the end of August, BTL Group announced the beta launch of Interbit as it becomes closer to being launched in live commercial environment.
While the company’s headquarters are in Vancouver, BTL Group also operates in Calgary and Canary Wharf in London, England.
4. Coinsilium Group (NEX:COIN)
Market cap: GB$3.37 million; current share price: GB$3.13
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.
According to its website, Coinsilium is relatively new in the blockchain field: the company 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.
At the beginning of August, the company announced that it had completed the sale of interest in SatoshiPay, a company that processes nanopayment transactions usually in the form of bitcoins. Meanwhile, closer to the end of August Coinsilium Group announced a formation of its wholly-owned subsidiary, Terrastream, which aims to build an enterprise standard blockchain-powered platform for token-based alternative funding solutions. In late September Coinsilium announced a purchase of 5 million shares at 2.25 pence per share.
5. DigitalX (ASX:DCC)
Market cap: AU$22.83 million; current share price: AU$0.056
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.
6. First Bitcoin Capital (OTCMKTS:BITCF)
Market cap: $132.92 million; current share price: $0.40
First Bitcoin Capital, sixth on our blockchain technology stocks list, bills itself as the first vertically integrated consolidator in the bitcoin and crypto-currency arena. The company is focused on the acquisition of bitcoin startups and funding companies developing bitcoin software and hardware.
Although bitcoin is blockchain’s favourite child, blockchain is no longer living vicariously through it. Although blockchain is most understood as the backbone of bitcoin, it is now standing tall in different spheres of applications. With that in mind, the company is working on a number of projects, including: CoinQX, Bitessentials, BitClassTravel, Bitcoin.cc & Bitcoin ATM.
On August 2, the company announced that it will be the first company to pay dividends to its shareholders via cryptocurrencies. That being said, the SEC suspended trading of First Bitcoin Capital’s shares on August 24 until at least September 7 due to its share price rocketing more than 6,000 percent so far this year.
“The Commission temporarily suspended trading in the securities of BITCF because of concerns regarding the accuracy and adequacy of publicly available information about the company including, among other things, the value of BITCF’s assets and its capital structure,” the statement read.
First Bitcoin Capital then issued its own statement, stating the company has not accessed capital markets from “the day we began developing cryptocurrencies until this day.”
At the beginning of October, the company announced that it had postponed a cryptocurrency dividend and hopes to have a “comprehensive distribution plan” set in the near future.
7. Global Arena Holding (OTCMKTS:GAHC)
Market cap: $5.67 million; current share price: $0.0123
Global Arena Holding acquires companies and patents that use the blockchain crypto technology. They invested in Blockchain Technologies Corporation, a startup accelerator who have developed a patent pending voting technology.
They are also working on applying blockchain technology to ATMs. Smart contracts can be used in wills, eliminating the need for estate executors, triggering a chain of events starting with verifying the death and subsequent asset distribution. CEO John Matthews claims “the Blockchain will evolve to be as crucial as the Internet itself and many time more valuable.”
In August, the company announced that its subsidiary, Global Election Services announced the implementation of new software and hardware to use in ballot scanning during the tabulation process.
8. Global Blockchain Technologies (TSXV:BLOC)
Market cap: $48.56 million; current share price: $2.65
Formerly Carrus Capital, Global Blockchain Technologies is also relatively new in the blockchain sector, having just announced its name change effective October 5.
Global Blockchain provides investment services and was founded in Vancouver in early 2010.
9. HashingSpace (OTCMKTS:HSHS)
Market cap: $3.34million; current share price: $0.02
HashingSpace is currently undergoing restructuring. The new management stated that it is going to focus on providing the tools needed to develop future blockchain technologies.
10. HIVE Blockchain (TSXV:HIVE)
Market cap: $439.57 million; current share price: $1.94
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.
11. Riot Blockchain (NASDAQ:BIOP)
Riot Blockchain is also relatively new to the blockchain scene, having changed its name from Bioptix to Riot Blockchain at the beginning of October. Formerly a biotech company, Riot Blockchain is the first mover on the NASDAQ as a pure play blockchain company. Riot hopes to gain exposure to the blockchain ecosystem through investments in the sector, specifically through bitcoin and ethereum. The company has partnered with Coinsquare by way of a strategic investment.
This is an updated version of an article originally published on the Investing News Network in 2016.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: 360 Blockchain is a client of the Investing News Network. This article is not paid for content.