Long Island iced tea company stock rises after the Blockchain

Anyone for a long time the island of the Blockchain?

Long Island iced tea Corp. this week jumped on the cryptocurrency bandwagon, wearing a long Blockchain CORP

On Hicksville, n. Y.-based company launched its first ready to drink iced tea flavors in 2011. Six years later, is the main challenge for companies to focus? Towards exploration and investing in opportunities to benefit from the advantages of the blockchain, According to a press release.

See the progress in the technology of the blockchain once in a generation opportunity,? CEO Philip Thomas said in a statement. And have made the decision to focus our business strategy to pursue opportunities in this evolving industry.

In this case You’ve been living under a rock for the past year, the blockchain technology is decentralized, self-cleaning data. That information can be managed without an intermediary such as a bank, government, or accountant.

The best known (but by no means only) application of the digital payment system bitcoin, which cuts out the middleman to enable direct electronic cash transfers.

The scheme relies on members of the general public check the timestamp of transactions. Those transactions are then added? Blocks? To protected, encrypted, non-editable string (hence the name) and common in the private sector (with restricted membership) or public network.

The Blockchain, according to the product the company is creating? Basic model challenge? In all over the world market. The company already has its eye on a few of the partnerships investments and potential acquisitions that involve the Financial Services industry.

We strive to have a new direction in thinking and deliberate, The President said the Executive.

Long Island Iced Tea, a product of the 2015 merger with Cullen agricultural holding Corp. had a net loss of $ 3.9 million in sales of $ 1.6 million in the three months ended in September. 30, as reported by Bloomberg. The company lost $ 11.6 million in sales of $ 3.9 million in the first nine months of the year.

Since the name change Thursday long a Blockchain company’s shares rose as much as 289 percent.

The parent company, which reserves the web domain www.longblockchain.comit will continue operating Long Island brand beverages LLC. M. M, with a constant focus on ready to buy refreshments.

I’m very proud of what we have achieved in the beverage industry we are committed to growing our business at both the national and international levels? Thomas said, assuring customers, suppliers, and partners of the company s Continued support? From the Long Island iced tea portfolio.

Your support over the years has helped to drive growth and elevate our brand, we are committed to maintain and strengthen these relationships Added.