Traders love stock tips, and the people behind The Motley Fool are happy to oblige. They know there is a growing interest among mainsteam investors in blockchain technology. So the publication asked three of its experts to name a publicly traded company they believe is “on the cusp of this revolution” for their November stock picks.
Two of the names will be familiar: MasterCard and IBM. The third company, however, may be less so: Broadridge Financial Solutions.
“Fool” Sean Williams lauds MasterCard for plunging into blockchain rather than hesitating. In particular he likes the credit card company’s new patent allowing it to build a hybrid payment network that would process blockchain currencies on traditional payment networks.
“Fool” Keith Speights knows IBM is “big into blockchain.” He cited just one of many examples, IBM’s food safety blockchain that Walmart is using to track the supply chain for its fresh produce as well as Big Blue’s many blockchain patents.
And then there is Broadridge Financial. According to “Fool” Brian Feroldi, scores of publicly traded companies rely on Broadridge to send their investors regulatory documents such as proxies and annual reports.
Where does blockchain come in? Broadridge’s management team has been incorporating blockchain technology into its core business to lower the costs of tracking asset ownership while increasing security. It could also make it far easier to facilitate investor communication with greater speed and accuracy.