Which Blockchain-Related Stock Should You Be Looking Out for in 2020?

Blockchain Contributors

Bitcoin uses blockchain technology to trade digital currency. Blockchain is more of a digital distributed ledger that enables information to be recorded, maintained, and also shared by people. It uses technology that underpins Bitcoin and other cryptocurrencies. Investing in blockchain stocks is a great financial decision today as blockchain technology continues to expand. Several emerging technologies are predicted to alter the future of the financial market. Blockchain technology has impacted other industries such as healthcare as they look into investing in blockchain stocks and technology to make transactions efficient. Here are some blockchain-related stocks that you should be looking out for:

  1.     Bank of America (BAC)

Bank of America began hiring for blockchain positions, which indicated that the company is a strong competitor in the market. They advertised for professionals in the blockchain sector and those with experience in blockchain technology. BAC has one of the largest blockchain patent portfolios of any publicly-traded company, which indicates that it is committed to the industry. Owning such great patent rights earns the company billions every year. This makes it potential for investment in blockchain stocks.

  1.     HIVE Blockchain Technologies

HIVE, which is the former Leeta Gold Corp, is a Canadian company with multiple partners with businesses that deal in blockchain technology. It mines and trades in cryptocurrencies that you can buy such as Ethereum and Ripple. The company has continued to make a significant impact on digital currency trading and earned a spot as one of the top companies to invest in blockchain stock. In the past year, they have announced several developments and advancements in technology to make transactions more efficient.

  1.     Square (SQ).

Apart from providing hardware and software for businesses, Square has founded a team dedicated to blockchain development to aid the company to tap into the blockchain technology market. Some investors have argued that Square only provides a portion of blockchain transactions as it has other functions such as credit card payment processing. The company has stayed competitive by offering a variety of services while venturing into the blockchain market.

  1.     RIOT Blockchain

Riot is a relatively new company that trades in cryptocurrency and blockchain technology. It has shown great improvement in the blockchain industry. It now competes with the major companies in the industry for the top spot. It offers a wide range of investment opportunities in the blockchain ecosystem for those looking to purchase stock in this company.

  1.     IBM

IBM is a tech giant that develops blockchain projects and various technologies related to the blockchain industry. The company has monitored and excelled in cryptocurrency transactions while maintaining a competitive edge. Together with Bank of America, IBM has a large blockchain patent portfolio, which makes it a top pick for investing in blockchain stock.

  1.     MasterCard

This company has invested in blockchain technology to improve the efficiency of transactions and eliminate fraud. MasterCard has been successful in lending and credit processing for a while now, but it has taken up the challenge of incorporating blockchain technology. This is a good choice for the investment of blockchain stock.

Conclusion

Investing in blockchain stock is the first step to tapping the blockchain market without necessarily having to buy cryptocurrencies like Bitcoin. You should identify stocks that have the highest potential and minimal risks to ensure that you gain from your investment.

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