The Investing News Network rounds up some of the biggest company and market news in the technology sector for the past trading week.
This week (April 8 to 12), it was revealed that Canada is one step closer to joining the 5G revolution thanks to the conclusion of a telecom auction for the prized 600 MHz spectrum.
The auction fetched C$3.47 billion for the Canadian government as a total of nine companies won the spectrum, including the likes of Telus (TSX:T,NYSE:TU) and Rogers Communications (TSX:RCI.A,NYSE:RCI).
The Canadian minister of innovation for science and economic development, Navdeep Bains, said that the auction will boost the wireless landscape in the country.
“Through this process, we have strengthened wireless competition, which will drive prices down and improve coverage,” Bains said in a release. “It is clear that the big winners in this auction will be Canadians in both urban and rural areas.”
Rogers was one of the biggest gainers of the auction, having secured the nationwide spectrum for C$1.7 billion. The company noted that the funds will be used to roll out 5G services, a next generation application capable of providing higher data speeds.
Top news stories
Top tech news stories covered by the Investing News Network (INN) for the week include a review of the blockchain space during the first quarter of 2019 and the top stocks year-to-date in areas including cleantech, fintech, gaming and more.
With the blockchain industry still reeling following the controversies surrounding QuadrigaCX and Tether, regulators in Canada and the US are looking for insights from experts on how to regulate the industry.
Henry James, deputy CEO of Fincross International, told INN that the market share for security tokens is becoming attractive.
“The two things holding back the security token market today are the lack of infrastructure to support that market and to make it an efficient market to actually enter and to then trade on the secondary market, and also regulations,” James explained.
As we head into the second quarter and beyond, blockchain’s use could disrupt a number of industries, which means further education will be needed in the space.
“The most important things, I think, that we’re discovering on our side is that there’s a need for education within the financial community — whether that’s a financial advisor, whether they’re institutional traders or portfolio managing traditional assets,” David Martin, chief investment officer of Blockforce Capital, said in an interview with INN.
Sticking to blockchain, a number of companies produced gains in the first quarter of 2019.
HIVE Blockchain (TSXV:HIVE) emerged as the top gainer for Q1. The company has four cryptocurrency mining centers around the world and has been expanding its portfolio of digital assets.
As cellular operators and manufacturers continue to roll out the welcome mat for 5G services, several companies in this sector gained in the quarter.
Wrap Technologies (NASDAQ:WRTC) topped the charts with a gain of over 115 percent, with its flagship product, BolaWrap 100, making waves across the US.
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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.