Selfie drone maker IOT Group has hired its second blockchain wizard in two days
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Selfie drone maker IOT Group has hired its second blockchain wizard in two days.
Yesterday IOT announced it would start a blockchain advisory board with the appointment of advisor Adam Ritchie as its chairman.
Blockchain — one of the hottest sectors on the ASX — is an encrypted, public ledger of transactions, best known as the basis of cryptocurrencies such as bitcoin. But it has many other potential applications such as enforcing digital contracts and securing public records.
Today IOT added portfolio manager Chadd Burgess — who works at the same advisory firm as as Mr Ritchie.
IOT told shareholders Mr Burgess was “an early adopter, [cryptocurrency] miner and evangelist for BTC [bitcoin], Dash and Ethereum”.
The move comes after IOT agreed to pay celebrity publicist Max Markson just over 1 million shares for PR work and branched out into home delivery startup RUNA.
IOT — which primarily sells drones that take selfies — lost $8.3 million last year on sales revenue of $1.5 million.
The group had about $923,000 left in the kitty at the end of December.