Generating commercial value from Blockchain Development - Digitalx is a Blockchain Technology Company that provides investors with exposure to multiple facets of the Bitcoin industry and the digital payments sector, including bitcoin mining, trading, and consumer wallet applications. The company is fully funded through the cornerstone investment led by Blockchain Global and is positioned as a leader in the industry.Recently, one of its director Peter Irwin Rubinstein (having indirect interest in the Company) acquired 1,500,000 fully paid ordinary shares at an average price of $0.084 per share from the market.

Over the period, the company has done strategic alliances with many players such as Blockchain Global Limited, Stargroup Limited, etc. to boost its organic and inorganic growth, for instance, through bitcoin ATM. The Company expects that it will move forward to expand globally through various acquisition or acquire new technology whichaids its overall growth in the year ahead. The Company updated the market with its Quarterly Activities for March 2018 and recorded a total cash of US$5.3 million and digital assets those were trading on exchanges amounted to US$5 million at quarter end. The Company’s fund will invest primarily in the leading cryptocurrencies, with the smaller allocation towards special trading opportunities including initial coin offerings (ICOs).


Digitalx Exchange Listed Crypto asset Holdings as at 31 March 2018 (Source: Company reports)

From the financial perspective, the Group’s total comprehensive income for the period ended 31 December 2017 was US$8,031,669 (2016: US$1,590,182) and whereas both ROE and ROIC as at December 2017 stood at 109.9 per cent, against values as at December 2017 of (88.1 per cent). Further, with the AirPocket App, the Group will hopefully see an increase in awareness, resulting into higher usage rate. If it succeeds, then this project could put Bitcoin on the world map in term of settlement arrangements.With the increase in demand of cryptocurrencythe company recently organized a conference in Perth, Sydney, and Melbourne, in addition to one-on-one meetings with potential buyers and partners. The Group also added many business lines to the core structure like Mailguard, Bamboo, Bankorus, Shivom, CoinPoker, Power Ledger, etc. Since the start of the year, the stock was down by 77.61 per cent and by 10.71 per cent in the last five days as on 29 June 2018. The stock price rocketed up by 14.667 per cent and closed at $0.086  as on 2 July 2018 when the Company updated the market about a change in the substantial interest of one of its directors.

Further, there is a speculation in the market on bitcoin touching around $50,000 by the end of the year, as estimated by many experts in the domain including BitMEX Co-founder Arthur Hayes basis the pending regulatory decision. This is expected to support the stock in the long term.
 

 
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