Last year, cryptocurrencies were unstoppable. And while sheer momentum can be partly responsible for that strength, much of it was due to the emergence of blockchain technology.
Put simply, blockchain offers a brand-new way of transmitting money without using traditional banking networks, as well as a means to securely store and access data. This means blockchain could transform the speed at which money moves from Point A to Point B, and could be a transparent but secure log for things like medical records or personal identification. Though it’s a relatively new technology that still has some kinks to work out, it’s clearly shown a lot of potential in small-scale testing.
With that being said, we asked three of our Foolish contributors to name one blockchain stock that they think should be on your radar this September. Interestingly, all three chose relatively “safe” businesses that have steady and profitable core operations, with burgeoning blockchain projects on the side. These companies are Dow stalwart IBM (NYSE:IBM), exchange giant Nasdaq (NASDAQ:NDAQ), and storage kingpin Seagate Technology (NASDAQ:STX).
Leading the charge in a new tech trend (for once)
Sean Williams (IBM): Though it’s easily the stodgiest of the three selections, I believe investors who are looking to gain blockchain exposure would be wise to consider Big Blue.
The intrigue about IBM’s approach to blockchain is twofold.
First, the company is ensuring that it won’t be late to the game, as it was when legacy hardware and software sales began to decline as enterprises moved into the cloud. These legacy sales have been a drag on IBM for some years now, and if or when blockchain does catch on with big businesses, IBM should be at the leading edge of that adoption rather than trying to hang on by the coattails.
Second, IBM is approaching its blockchain strategy from…
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