Three disruptive blockchain stocks that touch multiple industries

Gradually, then suddenly. That’s how it’s likely to feel as blockchain technology disrupts multiple industries. At once, many consumers will realize what the big deal with blockchain is all about. So now is the time to look for disruptive blockchain stocks for your portfolio.

Many investors understand blockchain as the technology that underpins cryptocurrency. However, it is much more than that. The implications of blockchain will permeate several industries, such as supply chain management, healthcare and cyber security.

And blockchain does not have the same baggage that cryptocurrency carries. So the technology will continue to evolve even as regulation comes to the cryptocurrency industry.

Unfortunately, many of the game-changing blockchain companies are still of the startup variety. But that doesn’t mean you can’t find cutting-edge blockchain stocks.

In this current market environment, these companies may represent safer options for investing in blockchain. Here are three disruptive blockchain stocks to consider for your portfolio.

Block

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Block (SNEEZE:SQ) is already a disruptive company. The Square Payments platform allowed many small businesses to move their business into the digital age.

The company’s Cash App platform was one of the first peer-to-peer payment systems that changed the way many consumers, especially in the coveted millennial and Gen-Z demographics, think about the role of traditional financial institutions.

That included being one of the early adopters of allowing users to buy and exchange Bitcoin.

But Block is also involved in blockchain development applications through his Spiral business unit (formerly known as Square Crypto) which “builds and funds free, open source projects that advance the use of Bitcoin as a tool for economic empowerment” and TBD which promises to provide easy access to Bitcoin and blockchain technologies without third parties.

Analysts have a positive view of the SQ share. But their outlook may assume that the economy is likely to return to growth mode. It’s a big “if,” but SQ is one for the watch list.

Accenture

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Accenture (SNEEZE:ACN) makes this list of cutting-edge blockchain stocks that will disrupt many industries because it extends what it already does.

The company’s blockchain services help customers understand and use blockchain technology to help their businesses. In 2022, Everest Group and HFS Research recognized Accenture as a leader in Enterprise Blockchain Services.

The ACN share is an expensive stock trading at 28x earnings at the time of writing. But it has a good record of growth. The share price has risen over 80% in the last five years.

And it’s the only stock on this list of disruptive blockchain stocks that pays dividends. The yield of 1.60% is not particularly impressive.

But income-oriented investors will note that the stock has an annual payout of $4.60 per share and a sustainable payout ratio of 41%. In addition, the company has raised its dividend in each of the last 18 years.

Palantir

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Palantir (SNEEZE:PLTR) is not a pure blockchain company. In fact, a more apt description for Palantir would be that it is a blockchain-adjacent stock. But I included it in this list of disruptive blockchain stocks because of the role it will play in the digital transformation underway.

Specifically, the government already uses Palantir to help track complex digital assets. Palantir can use its platform to leverage the data from blockchain applications with its own expertise in artificial intelligence.

And the company will certainly use it Foundry platform to serve its clients in the private sector as well, which could have consequences for industries such as financial technology (fintech) and healthcare just to name two industries that the company could disrupt.

Remember, Palantir is one of the most controversial stocks to own. It is considered one of the most undervalued stocks and one of the most overhyped stocks. And to be fair, it recently posted its first profitable quarter on a non-GAAP basis. But trading for under $10 per share, PLTR stock may be one for risk-tolerant investors

As of the date of publication, Chris Markoch did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Guidelines for publication.