Blockchain could be the “next wave of technological innovation” for investors seeking opportunities in the technology space.

According to Dale Gillham, chief analyst at Wealth Within, said many investors incorrectly associated blockchain with cryptocurrency but there were a multitude of other ways it could be used. Purchasing a vehicle, car or applying for a loan could all be made easier through blockchain in the future as it would be easier to provide and record accurate data.

“In simple terms, blockchain provides for the secure, anonymous recording of transactions, which is tamper proof and encrypted data held on multiple servers around the globe. In fact, I believe blockchain technology will become commonplace in the not-too-distant future, as anything we value can be recorded with blockchain,” he said.

While there were few listed blockchain providers yet or they were only small, Gillham said it was a growing space which he believed would “explode”.

“It is highly likely that blockchain will support the changing landscape right now and provide confidence in the security of our data. Therefore, if you are looking for the next Apple or Microsoft to invest in, maybe they are just a small start-up right now or maybe they are not far off listing, either way this space will be fun to watch,” Gillham added.

Blockchain stocks which were listed on the Australian Securities Exchange (ASX) included Fatfish Internet Group, Digital X and Raiz Invest.

The best-performing stock in this trio was Fatfish Internet Group which had risen 1,500% over one year to 08 March, according to FE Analytics, versus returns of 11.5% by the ASX 200. Meanwhile Digital X had risen 282% and Raiz had risen 108%.

Fatfish described itself as a global technology venture capital firm and invested in two blockchain companies, Minerium and Kryptos-X.

Performance of three blockchain stocks versus ASX 200 over one year to 8 March 2021

(Excerpt) Read more Here | 2021-03-09 13:54:24
Image credit: source

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