Include ‘blockchain’ in your business name and watch your stock price soar
What’s in a name? Well, a massive increase in a company’s share price for one thing. It has nothing to do with SEO rankings and keyword research either. All businesses need to do is add the word ‘blockchain’ in their name and they’re good to go!
It seems as if the reputation for Bitcoin's underlying technology definitely precedes it, as many businesses are seeing. Long Island Drinks Corp changed their moniker to Long Blockchain and instantly saw their stock price increase by 200%.
They’re not alone though, plenty of businesses are opting to seemingly forego extensive marketing campaigns and simply change their names. Vapetek, a US-based vaping startup changed its name to Nodechain. What does vaping have to do with blockchain you ask? Well, that remains to be seen as the company hasn’t really specified.
This craze isn’t limited just to the US though. A UK communications company, On-Line PLC, announced that they would be adding the b-word to their business name and just hours later, saw its share price change from $19.60 to $110. In a statement, the company said that blockchain was “new and exciting” and also stated:
“We feel the time is right to rename the company to reflect these developments, where we believe the future growth will be in our sector.”
However, it’s not yet clear how blockchain will be used in their business.
Now, we move on to Asia. Hong Kong-based tea manufacturer, Ping Shan Tea Group has transformed itself into Blockchain Group Co. The trend continues as this company also does not stipulate how blockchain technology will be integrated into its current business model.
Russia, which is in the throes of regulating everything crypto, sees something a bit different. Dve Palochki, a popular sushi restaurant, previously launched a crypto- and ICO-themed menu. In a cheeky move, the restaurant also offers a Chinese mulled wine, which is unfortunately unavailable, in reference to China’s ban on ICOs and crypto exchanges. Even though prices are displayed as tokens, they are actually just Russian rubles.
The country’s Burger King outlets have also tested the crypto waters by previously releasing their own tokens, known as Whoppercoins, which are powered by Waves Platform.
There’s no denying the strong allure of blockchain. Its increasing popularity is not only because it supports cryptocurrencies, but also because it is the future of technology for other industries as well. However, this craze shows that some companies are just hoping for a free ride on its coattails rather than investing in developing the technology for their business.
Author : Jack Dean