Blockchain

Bloomberg: Blockchain-related companies grow 54% over the past year

According to the Blockchain Global Equity Index, blockchain-driven companies have grown by 54% over the past year. The best indicators were demonstrated by TSMC, Kakao Corp. and Monex Group Inc.

According to Bloomberg, Elwood Asset Management LLP’s Blockchain Global Equity Index (BLOCK) has posted overall growth of 54% over the past year, even as markets plunge, hitting tech stocks especially hard.

BLOCK tracks 45 companies developing the blockchain direction. The top three on the index include Taiwan Semiconductor Manufacturing Co. (TSMC), Kakao Corp. and Monex Group Inc. According to the index, companies with a strong focus on blockchain development have shown good growth over the past year.

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TSMC is one of the leading chip suppliers for ASIC miner manufacturers, South Korean tech giant Kakao Corp. launched the basic version of its Klaytn blockchain last year, and one of Japan’s largest brokerage firms, the Monex Group, acquired Coincheck two years ago. Collectively, the top ten companies in the index have grown 54% over the past year, with only Kakao showing 147% growth.

However, as noted by Bloomberg, the stable profitability of most of the index participants can only be indirectly related to their activities in the blockchain field. TSMC, for example, has largely benefited from the US-China technological rivalry and increased demand for personal computers, servers and game consoles amid the long quarantine caused by the pandemic.

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