A company that sells tech products to governments will not do so in 2019.
In a conference call with investors, Next Big Finance said it plans to stop selling new tech products from 2018, the same year the tech industry starts to see a big shift towards blockchain technology.
“We have been considering a pause for a few months now to see how the market evolves and the market changes over time,” said Jeff Kravetz, chief financial officer for Next Big.
Blockchain technology, which was first proposed in the mid-2000s, allows for a decentralised, tamper-proof, and transparent way of transferring data, including financial data, from one party to another.
The technology has been described as revolutionary because it offers a new way to store, store, and store more data.
The blockchain has been in the news recently, however, for its potential impact on the value of stock options, the company said.
As more companies move towards blockchain, Next New Finance said the market could start to shift towards its position as the dominant blockchain technology in the future.
Next Big Finance is an investment management company focused on technology, investing in companies in the technology, financial services, and media industries.
It recently added $100 million in the fund, and raised $150 million in an initial public offering last year.