Keep Your Eye On These Blockchain Stocks
Although cryptocurrencies have had a miserable year, the technology underlying them, known as blockchain, may have staying power. In particular, blockchain technology offers the ability to transmit money in a secure manner without the need for traditional banking networks. It also allows for the transparent and immutable storage of data. In plain English, it could allow for quicker money transfers and provide use outside the banking industry with regard to data storage. Its utility both within and outside the financial sector is what makes blockchain so intriguing.
With that being said, we asked three of our blockchain-focused contributors to name one company they’re watching in November that they believe is on the cusp of this revolution. Rising to the top of the list were payment processor Mastercard (NYSE:MA), stalwart tech giant IBM(NYSE:IBM), and investor communications provider Broadridge Financial Solutions(NYSE:BR).
Are hybrid networks the future?
Sean Williams (Mastercard): Sometimes it’s the least obvious companies that can be the most intriguing. Whereas some folks would view payment processing giant Mastercard as a company that would be threatened by the blockchain revolution — after all, blockchain aims to transfer money from Point A to B without using traditional banking networks — it’s actually one that could thrive because of it.
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