Dicom acquires minority stake in startup Monsoon Blockchain and enters blockchain

Dixon Technology Group has entered the blockchain space by acquiring a minority stake in a US-based startup called Monsoon Blockchain. The two companies confirmed that the purchase agreement was signed on January 7, but declined to disclose financial terms of the transaction. However, people familiar with the matter said that the transaction raised the blockchain startup's valuation to more than $ 100 million. Di Dongtong chairman and founder Liu Donghai said the transaction will enable his company to explore potential use cases that require blockchain and other emerging technologies such as 5G and the Internet of Things.