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Friday, August 6, 2021

A Potentially Revolutionary Move by Global Blockchain Technologies Corp (OTCMKTS:BLKCF)

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Global Blockchain Technologies Corp (OTCMKTS:BLKCF) popped higher on late last week, in direct reaction to a catalyst that may put this company in an interesting position. First off, before we move to the precise nature of the news, consider the intellectual grip that the blockchain concept has on the wider corporate community right now. Imagine how many established companies may be prepping some type of inclusion of this concept in their models.

Now consider that BLKCF just announced that it is the lead investor with a US$2.0M investment into the Kodak Coin, a compliant and fully-registered Initial Coin Offering (ICO). According to the release, “Kodak is the first major NYSE-listed corporation to be part of creating and implementing a Cryptocurrency. The Company has subscribed for all 8 million Kodak Coins that were available in the Pre ICO Stage I. Stage II Pre ICO opens tomorrow January 10. The Coins are being offered by WENN Digital, in conjunction with its licensing partnership with Eastman Kodak.”

Global Blockchain Technologies Corp (OTCMKTS:BLKCF) frames itself as an investment company providing investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies.

GBT is focused on streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. GBT is listed on the TSX Venture Exchange and its common shares trade under the ticker symbol \”BLOC\”.

According to company materials, “Global Blockchain Technologies Corp. is an investment company providing investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies. GBT is focused on streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. GBT is listed on the TSX Venture Exchange and its common shares trade under the ticker symbol “BLOC”. Other information relating to GBT is available on SEDAR at www.sedar.com as well as on the Company’s website at www.globalblockchain.io”

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As noted above, BLKCF just may have set a trend that will be important to watch going forward. By leading a round of investment in the Kodak coin, the company has taken a step as a sort of new type of hedge fund.

“We are very pleased and excited to have Global Blockchain Technology Corp, a Cryptocurrency pioneer and a visionary in the ICO revolution as our lead investor in this historic ICO. They are an experienced group of investors who have a deep understanding of the crypto markets,” said Jan Denecke, CEO of WENN Digital and Co-founder and developer of the KodakOne Image Rights Platform and the Kodak Coin.

“The KodakOne ICO is very compelling and fills the need for managing and monetizing digital assets globally. Given the size of the marketplace, the people involved and technology partnership, this has the opportunity to be a very large and active community. Our deep industry roots and relationships have allowed us access this new ICO in short order, one of the first involving a significant brand name issuer that is widely recognized by the public,” said Shidan Gouran, President, Global Blockchain.

Basically, this is a small float play that just suggested a new way to play the crypto revolution. That doesn’t necessarily mean they will have an edge in this type of game going forward. But we would imagine we will see more moves of this nature by both the established corporate world and capitalized names with experienced talent in the blockchain space.

At this time, carrying a capital value in the market of $32.8M, BLKCF has a significant war chest ($6.3M) of cash on the books, which stands against virtually no total current liabilities. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues reportedly growing at 899.9%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $BLKCF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $BLKCF, either long or short, and we have not been compensated for this article.

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