67 Chinese Listed Companies are Getting on Blockchain
In resent days, blockchain is emerging as one of the cutting-edge technology. Many industry leaders choose to invest in this new tech to drive their business value. On June 4, Keda Group released an announcement on its overseas investment progress.
The listed company has set up a blockchain industry fund in this March, according to the announcement, the fund has successfully invested in 4 blockchain projects with a total investment of more than 29 million yuan, in fields include blockchain consultation, blockchain applications and the underlying development, as well as blockchain media.
Nevertheless, Keda is not the only public company that has disclosed their blockchain investment strategy. According to Securities Daily, more and more listed companies eye blockchain as an disruptive technology which may transform their existing business.
There are 67 listed companies have engaged in blockchain concept in China according to the domestic mainstream financial portal website East Money.com. In doing so, their stock prices may skyrocket easily in a fairly short time.
Although the cryptocurrency market is appearing to show some stagnation at current levels, listed companies cannot wait to jump into the the blockchain crazy. Securities Daily underlines that, another 8 listed companies have announced they are going to tap into blockchain industry since last month.
Most big corporation choose to cooperate with blockchain startups to set up new subsidiary to blockchain layout their new blockchain business. They take blockchain as a springboard to quickly enter the “blockchain + Supply chain finance” or “blockchain +” smart logistics, smart devices, unmanned retail service market.
Some enterprises choose to engaging the blockchain industry by buying shares of the blockchain startups, just like Keda. The company uses its blockchain industry fund brought shares from four blocchain technology startups.
However, although blockchain-related investments may boost the share price in a short time, but it won’ t last for long. Some industry analysts believe that although blockchain technology is expected to drive the upgrading of traditional industries, there is still a long way to go before this tech becomes fully mature.
As a complicated emerging technology, blockchain technology is still in its early stage and there are still a lot of uncertainties in its application prospect and profit model. Therefore, simply declaring investment in the blockchain is not enough to sustain the stock price rise.