“Blockchain” is a trendy, new idea that has made different companies adopt blockchain technology to their list of core functions. Some of these companies are described below and many will not develop or thrive in the industry. While for some there is clear potential for both a contribution to the technology and their own growth in this ever changing digital economy.
10 New-to-Blockchain Companies
Nodechain Inc. which has historically focused on e-cigarettes and vapes has now diversified into blockchain. As no direct comparison can be drawn between these two different industries, it remains to be seen how their core business will merge with cryptocurrency mining and blockchain ventures.
A company which has focused on mobile gaming and medical marijuana has now entered into the Bitcoin ATM industry. Again, this is a huge change in their focus. This seems to point again to the hype and fan-fare around the value of blockchain in the new economic sphere.
Seven Stars Cloud Group Inc.
This company was previously called WeCast Network. Having started as “You On Demand”, this company has gone through several name changes. Seven Stars Cloud provides a video on demand service. Therefore, using blockchain appears to be a viable solution for them to diversify their video distribution platforms and open up new use forms.
LongFin Corp traditionally specialized in AI and machine learning. Their natural expansion into blockchain remains a challenge to them. To enhance its possible success in the blockchain industry this company also acquired several other companies.
Social Reality Inc.
With its focus on data management and digital media, adding the distributed ledgers to their portfolio is the goal of Social Reality. This bears testimony to the various uses of blockchain technology.
Intercontinental Technology Inc.
From manufacturing and selling cigars, this company depends on its powerful name. Perhaps some experts will be required for them to enter the domain of blockchain technology and make a mark.
Riot Blockchain is an established blockchain and cryptocurrency company that lives up to its very bold name. A strong player in the industry and one which seems set to grow much further.
Blockchain Group Co Ltd
From a history of selling Chinese tea, this company announced in December 2005 its diversification into the blockchain industry. Although motives for this drastic shift in focus were not clear, it will be interesting to see the developments of this company in the future.
Hive Blockchain Technologies
This company has had interests in petroleum, mining bullion, resources and now Bitcoin Mining. Although many of the ventures failed under several different names and the Bitcoin mining project seems not to be taking off, the owners of this company appear to be adamant to succeed somehow in this industry.
The Crypto Company
The trading of The Crypto Company’s shares was blocked by the SEC not too long ago, making it one of the other firms to be under the watchful eye of both authorities and the public. Entering the blockchain industry from the developing of innovative sports bras demonstrates their astuteness in economic analysis or a huge risk they are taking with such a change.
10 New-to-Blockchain Companies Conclusion
Clearly, the above investigation demonstrates that although blockchain has entered the digital platform as a valuable asset to businesses. Its current inclusion in several industries can prove to either make or break them. One should think clearly and know enough about the product before entering the market.