ABOUT LONG BLOCKCHAIN CORP
Long Blockchain Corp. (Nasdaq: LBCC) is focused on developing and investing in globally scalable blockchain technology solutions. It is dedicated to becoming a significant blockchain business that creates long term value for its shareholders and the wider community by investing in and developing businesses that are "on-chain". Blockchain technology is fundamentally changing the way people and businesses transact, and the Company will strive to be at the forefront of this dynamic industry, actively pursuing opportunities.
Blockchain acts as a public, decentralized ledger. This ledger provides a single, unified source of data, creating a clearer audit trail and consistency across parties. Long Blockchain Corp. believes that emerging blockchain technologies are creating a fundamental paradigm shift across the global marketplace, with far reaching applications across all industries from financial services (smart settlements) to consumer packaged goods (supply chain verification) to healthcare (electronic medical records).
Blockchain is the technology that underpins cryptocurrencies; it is a record of information stored on a network of computers (“nodes”). Digital transactions using cryptocurrencies are verified by these nodes using known algorithms. Each batch of these transactions – a “block” – gets coded and permanently added to the existing “chain”. Once verified, the transaction is linked with other transactions to create a new “block” of data for the ledger that cannot be edited.