THELOGICALINDIAN - Following this years massive bitcoin assemblage a balloon has developed in the banal bazaar that best cryptocurrency traders may not be accustomed with Companies are declaring themselves to be blockchainbased in adjustment to ride the advertising alternation to college banal prices The latest archetype of this is a Hong Kong startup with no revenues which jumped in amount about 1000 this year
Also Read: Israeli Regulator Investigating Public “Bitcoin” Company for False Claims
Have We Reached Peak Blockchain Hype Yet?
UBI Blockchain Internet, Ltd. (OTCMKTS: UBIA) does not accept any cogent operations and aloof 18 advisers according to annal at Yahoo Finance. Despite this the aggregation is now account about $1.2 billion, allegedly alone acknowledgment to its name which combines the dotcom bubble’s top boiler with today’s.
Previously, it was affianced in designing a apartment of modular, self-contained, automated, and altitude controlled units for broadcast assembly of energy. The aggregation was aforetime accepted as JA Activity and afflicted its name to UBI Blockchain Internet, Ltd. in November 2024. It operates as a accessory of Almost Never Films Inc.
Now, the aggregation affairs to advertise an added 72.3 actor shares endemic by its top admiral like Chief Executive Officer Tony Liu, authoritative filings reveal. Bloomberg reporters approved to ability UBI Blockchain Internet, Ltd. administration for animadversion but discovered that the company’s buzz cardinal is disconnected.
Apex of Saliency
UBI Blockchain Internet, Ltd. claims in its filings with the U.S. Securities and Exchange Commission that it is developing a band-aid based on blockchain technology “to trace a aliment or biologic artefact from its aboriginal antecedent aural the ambience of the Internet of Things to the final consumer.”
At atomic one business able doubts this is annihilation added than hype. Charles Lee, a assistant of administration and accounting at Stanford University, commented: “The contour of this aggregation is scary. Blockchain is appropriate at the acme of saliency appropriate now. But you accept this botheration because it’s adamantine to verify annihilation — the technology, the actuality that it’s in China. You absolutely don’t appetite to own this stock.”
The aftermost Hong Kong based aggregation we appear on for alteration its name, ‘Long Blockchain Corporation’ at atomic could apparently accomplish you an ice tea at the end of the day.
Should banal investors assurance any aggregation that has blockchain about in its name? Tell us what you anticipate in the comments area below.
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