Stapleton Capital changes name to focus on blockchain

Stapleton Capital, a company originally formed to acquire a company or business in the telecoms sector, announced on Monday that its directors have identified a number of blockchain technology investment opportunities in recent months.

The London-listed firm described blockchain as a digital networked database system of ledgers that could record “almost any type” of data or transaction.

It said the system was continually reconciled and, as information was stored in multiple locations, it was public and “easily verifiable”.

“Currently blockchain's mainstream use is as the basis for digital currency, however it has applications across multiple other industries such as data, banking, gaming, and communications,” the board said in its statement.

“It is within these industries and applications, among others, where the directors believe the technology has the potential to cause major disruption and that they will focus the company's resources.”

As a result, the board said it had decided to change the scope of Stapleton's investment criteria to consider acquisitions within the blockchain technology industry.

Any acquisition could now be substantially larger than the original size of deal contemplated when Stapleton floated.

To reflect the change in scope of the company's investment strategy, the board also approved a change of name of the company to Blockchain Worldwide, which took place on 19 January.

The company would trade under the new ticker code BLOC with effect from Monday.

“We have seen a number of very exciting blockchain opportunities in recent months and believe the underlying technology has the potential to disrupt many industries around the world,” said chairman Jon Hale.

“This change in strategy, and name to change to reflect this, could generate significant shareholder value if we are able to acquire one or more of these fascinating nascent technologies.”