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Blockchain Investor Grandshores Tech Turns to Industrial Cannabis After Crypto Market Rout

Published 05/02/2019, 08:36 AM
Updated 05/02/2019, 08:44 AM
Blockchain Investor Grandshores Tech Turns to Industrial Cannabis After Crypto Market Rout

Hong Kong-listed contractor turned blockchain investor Grandshores Technology — backed by the Hangzhou municipal government — plans to enter the medicinal and industrial cannabis market in a bid to counter the adverse impact of crypto winter. The development was revealed in a report from local English-language newspaper the South China Morning Post on May 2.

The firm’s co-chairman Yao Yongjie has reportedly stated that industrial cannabis cultivation will become the company’s new business focus, drawing on resources previously reserved for global blockchain investment.

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