Vemanti Group Refocusing to Cryptocurrency/Blockchain Technology
Technology mogul Vemanti Group resurfaced in the news with their statement that the technology-focused company will orient itself around cryptocurrency and blockchains moving forward. Changes were expected to be made following a steep decline in value for the company over the past twelve months. Vemanti’s share value has plummeted 83.9% over the past twelve months, dropping from $0.56 (11/18/16) to $0.09 (11/14/17).
Vemanti, a Nevada corporation located in Newport Beach, California, has been a key figure in seeking out emerging, high-growth market. The company’s general structure will remain structured around investing and developing within these newer sectors. Changes will come in immediate financing with a greater emphasis on dedicated looks at cryptocurrency and blockchain technology.
The statement was met by CEO Tan Tran who speaks favorably of the emerging technology, “Blockchain technology is the biggest innovation after the internet. Like the internet before it, blockchain promises to upend business models and disrupt industries…we will start looking at making investments in Bitcoin, Ethereum, and Litecoin.”
Actions over the summer foreshadowed the move as Vemanti increased its presence in online tech. The company signed a letter of intent to acquire a Vietnam-based internet technology group more than a month ago. Southeast Asia continues to be one of the most attractive investment markets, and the online benefits become even more important with Vemanti’s new direction.
Many believe the combination will meet the industry-changing standard established by Tran. Vemanti is far from the first to invest in the technology, nor will they be the last. There dedicated action to further exploring the growing market has already seen positive dividends for the company. Stock value has risen from the $0.07 trading value seen at the end of last week. The upward trend is expected to be sustained for the short-term, but action will need to produce results for the company to regain its former standing.
It remains unclear how Vemanti is specifically dedicating its resources to the new market. The company’s earliest objectives will be targeted around FinTech and consumer-to-consumer, business-to-business, and business-to-consumer E-applications. Standard blockchain investments provide either new, or more developed transaction levers for the expanding array of cryptocurrencies. Decentralized information aids the digital trading and regular investments have seen the markets continue to grow.
Tran speaks out specifically to Bitcoin, Ethereum, and Litecoin as targetable cryptocurrencies. The popular names in the crypto-market stand as favorable starting points for new players in the market. However, Vemanti’s expansion into other currencies will likely not be far behind.
Perhaps most important is the diversification this may reflect in Vemanti’s primary investment portfolio. The technology-driven company is sticking to its roots on the surface, but expected impacts will reach further markets. Financial sectors will see the greatest impact by the evolving e-currency.
The coming months will be very telling of Vemanti’s presence in the financial market. Consistent development in the market bodes well, but a downward trend over the past year muddles the picture for shareholders and prospective investors.