Companies continue to explore blockchain despite the fallout
As the cryptocurrency fallout from the collapse of the digital currency exchange FTX could upend markets, financial firms are moving forward undeterred, continuing to explore ways to use blockchain technology.
It’s been a long winter for digital currencies, which have tracked stocks and bonds for most of the year, and the latest selling pressure from the FTX debacle snuffed out a possible year-end rally. The hope is that a rally can recover once the dust settles, but financial companies are moving forward nonetheless.
“As the crypto world descends into chaos, dedicated teams within financial services firms quietly continue to go about their business, deploying blockchain-based products that solve real-world customer problems,” explained one. . “Amazing things happen when the technology that has been used to create cryptocurrencies is applied to real business challenges.”
The world of finance was an early adopter of blockchain technology, using the foundations of cryptocurrency to facilitate transactions with greater efficiency. From increased security to ledger-based transactions for easier data interpretation, financial firms have reaped the potential benefits of blockchain.
“Although cryptocurrencies were the first major use case to emerge using DLT, financial service providers have quickly recognized the transformative potential of blockchain,” the article adds. “Industry has started investing huge sums to find new opportunities to apply the technology.”
As more and more investment dollars flow into the blockchain network, this opens up opportunities from a retail investment perspective in capital markets. Traded index fund (ETFs) investors in particular can look at the Amplify transformational data sharing ETFs (BLOK ).
BLOK presents an active management strategy that can adapt to market movements by placing assets in the hands of experienced portfolio managers. BLOK adds diversified exposure and exposure to cryptocurrencies without investing in the currencies themselves.
Given the growing adoption of blockchain overseas, global exposure adds a touch of diversification to portfolios. BLOK does exactly that by reviewing opportunities outside of the United States
While the majority of the fund (75%) contains holdings in companies based in North America, the fund also diversifies with holdings in Western Europe and Asia-Pacific, investing in companies using and developing blockchain technology, the technology behind cryptocurrencies like bitcoin. This gives the fund exposure to overseas growth opportunities where this technology can be fully exploited.
By its, BLOK Features:
- A global portfolio of professionally selected stocks of companies involved in blockchain technology and indirect exposure to crypto.
- An active management approach that could allow the fund to remain flexible, make timely decisions and identify companies best positioned to take advantage of the developing blockchain technology space.
- The convenience and transparency of ETFs structure.
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