Blockchain, cryptocurrency and ICOs are terms that have come from nowhere a few years ago to now being quoted in almost every forward-looking article about business and the future. As a stock exchange, balancing the needs of both companies and investors, how and when should we be getting involved?
At NEX Exchange we are actively monitoring these developments and finding ways to get involved. We are the platform for two of the first ever publicly quoted investment companies in the blockchain world (Coinsilium Group NEX:COIN and Kryptonite 1 NEX:KR1) both of which have a portfolio of investments in some fascinating companies working on distributed ledger technology. They are attracting increasing interest from investors and there is regular trading in their shares on NEX Exchange.
We would welcome further companies who operate in this world and hope, over time, to have a broader enough spread to create a meaningful index for tracking progress.
We also have more than a passing interest in the crypto-currency world and are working with regulators to develop ways for investors to gain economically equivalent exposure to the major units (Bitcoin, Ethereum and potentially others) without being subject to the complexities (like digital wallets) and risks (like hacking) that direct ownership would entail.
We are hopeful that we will be in a position to make further announcements before the end of the year. In terms of ICOs, we continue to monitor developments but do not yet see an obvious opportunity to get directly involved. There are clearly elements of the ICO market that currently look very much like the wild-west, but the concept is clever and we have little doubt that it will evolve rapidly and become a useful tool for early stage funding of smart ideas. When that happens, NEX Exchange will be there to develop a framework for participation.
Patrick Birley is chief executive of NEX
Exchange. Email: email@example.com