The beverage company Long Island Iced Tea said Thursday that it's renaming itself Long Blockchain, in recognition of the fact that pretty much everyone is trying to get into blockchain technology despite knowing barely anything about it. While the company will still make its own brand of iced tea, its “primary corporate focus” going forward will be the “exploration of and investment in opportunities that leverage the benefits of blockchain technology,” it said in a statement. Long Island Iced Tea — sorry, Long Blockchain — saw its stock price triple overnight. This makes it almost impossible for any fraudster to try to game the system and spend a bitcoin twice. But for the moment, all the excitement around Wall Street finally adopting bitcoin as an investment vehicle has businesses like Long Island Iced Tea leaping before they look.

Source: Washington Post December 21, 2017 17:15 UTC