Blockchain predates cryptocurrency by a big margin. The technology, which forms the basis of the modern cryptocurrency revolution, is here to stay forever. Blockchain is independent of the current turmoil in the Bitcoin. Blockchain technology is being used to solve major problems faced by humankind. That’s why it should be safer and more profitable to invest in blockchain stocks. Here are the best blockchain stocks to invest in 2018.
IBM is one of the best and safest blockchain stocks to buy right now. The company is already using its Cloud platform, Watson, to provide blockchain services for over 400 clients around the world. IBM was the first company to introduce a Cloud-based blockchain platform, known as blockchain as-a-service (BaaS). IBM’s blockchain technology services are used by major banks all over the world, as the company estimates that its blockchain solution decreases financial transaction disputes by a whopping 77%. The bank using IBM’s blockchain technology include Bank of Montreal, Caixabank, Erste Bank and Commerzbank. IBM has several major contracts for its blockchain technology. The government of Dubai is using IBM’s technology along with that of ConsenSys to minimize registration times for businesses and maintain health records of citizens. IBM recently said its business strategy division, IBM iX, is working to create a blockchain solution to simplify the digital ad supply chain.
Eastman Kodak Company Common New (NYSE:KODK)
The struggling photography company shocked Wall Street earlier this year after it announced its plans to rebrand itself as a blockchain company, and launched its own cryptocurrency known as “KodakCoin”. Analysts think that unlike “fake” or nonsensical shifts towards blockchain – like that of Riot Blockchain, which is accused to pivoting to blockchain just to get temporary gains – Kodak’s business shift makes sense, as the company will be rotating its cryptocurrency in the digital photography business. Kodak’s stock skyrocketed about 200% after its blockchain announcements. The stock still presents an excellent buying opportunity.
Hitachi is one of the biggest technology conglomerates in the world. The Japan-based company is working on the blockchain technology since early 2000s. The company has a special Financial Innovation Laboratory (FIL) that is working on special solutions to simplify payments processing in the world using blockchain. Last year, Hitachi signed a deal with Mizuho Financial Group to test open-source Hyperledger blockchain consortium to determine whether they can use immutable ledgers to record orders.
Blockchain ETFs are the best option to invest if you want to minimize risks. One of the best blockchain and cryptocurrency ETFs is Amplify Transformation Data Sharing ETF (BLOK). BLOK’s top holdings include Taiwan Semiconductor Manufacturing and Overstock.com. The fund’s assets recently increased to a whopping $164.9 million from just $2 million in a single week, according to FactSet. Taiwan Semiconductor remains a hot stock amid an increasing demand of memory devices following the cryptocurrency mining boom. Overstock.com is also a decent blockchain stock. The company has a full division working on blockchain-based businesses.