3 blockchain backed ASX Stocks to watch out

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3 blockchain backed ASX Stocks to watch out

 3 blockchain backed ASX Stocks to watch out
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Summary

  • Blockchain is the technology that backs databases worldwide. All of the data in a Blockchain is unalterable and accessible to all Blockchain users. It is a permanent record.
  • Since data is the most precious business asset these days, it is high time for portfolios to get exposed to Blockchain benefits.
  • It is a widely evolving and high-risk space, but many companies using evolving data-heavy technologies are investing in it. It is the future.

Blockchain is the technology backing databases worldwide. Every evolving tech driven concept like cryptocurrencies, digital payments, Internet of things, Healthtech platforms, Agritech, etc. relies on this technology.

It is the buzzing word amongst investors, since data has become the most precious business asset. It is thus high time for portfolios get exposed to Blockchain.

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In this article we tell you-

  • What is Blockchain Technology?
  • Which are the leading companies in this space?
  • How one can invest in Blockchain?
  • Which are the best stocks on ASX to augment Blockchain benefits?

What is Blockchain Technology?

A Blockchain is similar to an electronic ledger. Data is recorded as blocks and added in chronological order. The top of the block is the most recent addition, while the chain represents layers of connected data. All of the data in a Blockchain is unalterable and accessible to all Blockchain users. It is a permanent record.

For detailed insights Watch: What is blockchain and blockchain technology?

How one can invest in Blockchain?

Blockchain is a digital concept and not a physical asset, thus investing exposure can be achieved in the following ways-

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Suggested Read: How Australia is planning to cash in on Blockchain technology?

Who are the leaders in this space?

It is a widely evolving and a high-risk space, but many companies are investing in it. The entire Banking and Payments industry in UK and US is backed by Blockchain. Few of the leading companies around the world operating in Blockchain space are-

IBM (US), Alibaba (China), Fujitsu (Japan) and Mastercard (US). Other emerging names include- Amazon, Intel, LeewayHertz (US), Blockchain Intelligence Group (Canada), Blockchangers (Norway), Chromaway (Sweden), PrimeChain (India), Solulab(US), BCDC Online (England), Titanium Blockchain (Israel), and few others.

These companies top the space based on portfolio offerings, experience, development cost and capabilities, etc.

Which are the best stocks on ASX to augment Blockchain benefits?

Digitalx Limited (ASX:DCC) is a Blockchain-based software company in the payments industry. Its products are used for secure money transfers worldwide. DigitalX was the world's first publicly listed blockchain technology company. In 2020 DigitalX launched Australia's first digital asset funds for wholesale investors.

Also Read: Blockchain Makes Inroads; More Diverse Sectors Adopt this Decade Old Technology

Tymlez Group Limited (ASX:TYM)-  designs and develops softwares that provide businesses a scalable blockchain solution platform. TYM has business in Australia, Netherlands, Germany, and the US. The company provides an enterprise-level blockchain software solution platform and develops various blockchain-based applications. It was founded in 2016 and is headquartered in Amsterdam, Netherlands.

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Security Matters Limited (ASX:SMX) owns and commercialises technology to permanently mark and identify objects with authenticity for  supply chain management. Its Blockchain technology, provides supply chain integrity and brand protection. The company was developed by the Israeli government. Its headquarters is in Melbourne, Australia. Its’ Blockchain based supply chain offering uses technology for the anti-counterfeit market.

Also Read: Don’t get blocked out: Investing in blockchain technology

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