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This juice company’s blockchain fairytale of fortune proves investors don’t get blockchain

Mimi Sabreena 4:04:00 PM Pilihan Editor

Farmingdale, New York-based beverage company Long Island Iced Tea Corp saw its shares surge in value by 500 percent on Thursday when it announced it was changing its name to Long Blockchain Corp (PDF), reports Financial Times. That’s great, and I’m happy for the folks at LIITC, sorry, LBC. But the facts around this windfall, and the trend among investors getting excited at the very mention of newfangled technology, are worrying. For those out of the loop, blockchain is the term used to describe a decentralized ledger of records that allows for a clear audit trail and greater accountability across…

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