Cryptocurrency craze led by Bitcoin speculation has been ceding the glamour since it hit the peak at the end of last year, now plunging to less than one-third of the price then.
However, the technology- BlockChain – underlying Bitcoin or cryptocurrency phenomena has its valid and viable root, therefore has been taken wide interest by all kinds of industries, especially Finance. Essentially, blockchain technology allows a public, seamless, frictionless transaction across the globe in a matter of milliseconds.
So who are the pioneers in exploiting this advanced tool?
Using the RBICS focus, with revenue and tradename database, I quickly sift through thousands of companies, generating the following:
There are three companies focus on blockchain, however, they are all penny stocks.
Two Japanese companies – OKWave and Remixpoint, Inc. – seems worthy of good attention. OKwave has been in the market for more than ten years and its current market cap. is $178 million; Reminxpoint was founded in 2004 and the size as of today is about $271.43 million.
Here is the business description from FactSet workstation – “OkWave engages in the operation of question and answer community site, ‘OKWave,’ for general consumer and systems consultancy. It operates through the following business segments: Knowledge Intelligence, Enterprise Solutions, and Multilingual Customer Relationship Management (CRM). The Knowledge Intelligence segment offers OKWave, Davia, OKBiz for Community Support, QA Partner, OKWave Premium, and OKWave Professional services. The Enterprise Solutions segment handles OKBiz. The Multilingual CRM segments provides multilingual contact center. The company was founded on July 15, 1999 and is headquartered in Tokyo, Japan.
“Remixpoint, Inc. engages in the system sales and development business. It operates through the following segments: Energy-related, Automobile-related, Finance-related, and Travel-related. The Energy-related segment handles the development and sale of energy management systems, energy conservation support consulting, sale of energy-related equipment, and electric power sales. The Automobile-related segment develops and sells used car assessment systems and provides used car consultation and trading services. The Finance-related segment covers the virtual currency exchange, transaction, transfer service, and store settlement services; and development and provision of virtual currency trading systems. The Travel-related segment covers the planning, development and management of hotel business and accommodation facilities. The company was founded on March 12, 2004
Skimming through companies that are not significantly exposed to blockchain, but reporting tradenames, no particular big companies jumped out. It’s worth pointing out that Overstock, a ballooned-up online furniture company, speculated in Bitcoin game last year, has the following price performance. After the fake height in 2017, it’s crashed to the prior level.
Apparently, RBICS data is still not up to the job. Using keyword “blockchain” to scour finance companies through all regulatory filings across the globe might be useful.
As a result, it truly yields much more companies -269 after applying a market size filter of $1 billion. The top ones are as below. Nasdaq is ranked 14th.