BrewDog eyes blockchain

pub & bar

By BigHospitality

- Last updated on GMT

BrewDog eyes blockchain

Related tags: Brewdog, Cryptocurrency, James watt, Finance, blockchain

BrewDog is working with digital finance platform Globecap on options for investors to 'tokenise' their equity in the craft beer business.

CEO James Watt said he was exploring giving its 210,000 Equity Punk investors the option of digitising their holdings in the company.

After receiving negative feedback on Twitter, Watt clarified that the company would consult with investors, and any proposal would be optional.

He said any blockchain BrewDog works with would have to have 'really solid sustainability credentials'.

Watt insisted the idea had nothing to with NFTS or cryptocurrency, but was about finding a more efficient way to maintain a shareholder register, and making it easier for Equity for Punk investors to realise the value of their shares.

Cryptocurrencies and NFTs have been a source of controversy in recent months after turbulent value fluctuations.

In the past three months, the crypto market is estimated to have lost more than $1 trillion in value.

As a results, Watt’s proposals were met with scepticism and derision, with one saying the space was 'toxic and the market is already sinking fast'.

Another added crypto was a bear market with a 'ton of bad vibes because of shady deals, companies going under, rug pulls and exchange hacks'.

Related topics: Business & Legislation, Pub & Bar

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