Long Island Iced Tea Soars After Changing Its Name to Long Blockchain

Analysts and Technologists continue to watch for Trends in Blockchains and Cryptocurrency

Many startups and tech companies are innovating in the space. However, given the hype a brand-marketers are also trying to leverage the ‘Blockchain’ hype. Take for instance the story of “Long Island Iced Tea” company whose shares soared after it changed its name to “Long Blockchain”

According to bloomberg

There’s a new leader in the sweepstakes for the zaniest name change in the crypto craze.

Long Island Iced Tea Corp. shares rose as much as 289 percent after the unprofitable Hicksville, New York-based company rebranded itself Long Blockchain Corp. It’s the latest in a near-daily phenomenon sweeping the stock market, where obscure microcap companies reorient to focus on some aspect of the mania sparked by bitcoin’s 1,500 percent rally this year.

Long Blockchain, whose business has been selling non-alcoholic beverages, says it will now seek to partner with or invest in companies that develop the decentralized ledgers known as blockchain, the technology that underpins bitcoin.

Other non-tech companies seem to be taking a leaf out of this playbook too:
Hooters Investor Whispers ‘Blockchain’ and Its Parent Company’s Stock Soars 50 Percent  – Chanticleer Holdings, which owns nine Hooters restaurants and other regional burger chains like Little Big Burger, announced today that it was putting its loyalty programs on the blockchain. And just like other companies that have recently issued press releases with the word “blockchain,” its stock price shot through the roof.

According to The Times, Bitcoin is name of the game for new generation of firms –  The boom in bitcoins and its related technology of blockchain has been reflected in Britain’s company registry.  Nearly 200 businesses using “bitcoin” or “blockchain” in their name had been incorporated as of the middle of last month, analysis of OpenCorporates data by The Times has shown, more than all the previous years combined.

Bitcoin is a unit of digital currency that exists as a string of computer code; it has no physical form. Its value soared by as much as 1,500 per cent last year but became highly volatile as concerns built that a bubble was being created.

Blockchain is the technological infrastructure behind bitcoin that enables records to be securely and instantly updated. It has the potential to be used widely in other markets

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