International Business Machines Corp (NYSE:IBM) has tried hard to implement the current hot blockchain technologies into its cloud-based services as well as other working systems. Even then, much to the surprise of everyone, the company has failed to get any response. Elsewhere, the bitcoin, cryptocurrency, and blockchain markets have been doing well beyond expectations.
Rather anything that is even loosely associated with bitcoin or blockchain has been receiving massive response and support over the past few days, weeks and months. But IBM is yet to strike gold which certainly seems to be an odd development because IBM has always pushed in favor of blockchain technology.
Riot Blockchain, The Crypto Company Stakes Soar
The market for virtual currency has seen a lot of ups and downs in the last few months and has shocked and surprised the trade analysts. Riot Blockchain Inc (NASDAQ:RIOT) sudden rise was never expected. The biotech company had not much existence until a few months ago. But it made one move of investing in 12% stake of a small cryptocurrency exchange of Canada and witnessed a sudden rise of 740% in just three months and 345% in just one month.
The Crypto Company (OTCMKTS:CRCW) is another venture whose worth rose to $12 billion in few months. Surprisingly, very few people really know what exactly this company does. Longfin Corp (NASDAQ:LFIN) stock has soared to 1, 240% in just around 1 week with a market cap of around $4 billion. From February 1, 2017, to June 30, 2017, the company’s revenue was just $28.1 with a gross profit of $4.4 million.
And in just six months it reached the figure of $4 billion after it took over Ziddu.com which worked with blockchain. So why has IBM failed to get the response with blockchain technology whereas other small ventures are doing so well? According to Tom Rosamilia, senior vice president of IBM Systems, all the things like mobile transactions can be expedited and the inefficiency can be taken out of the system using blockchain.
