Former Texas electronics giant RadioShack’s new owner reboots as cryptocurrency company

HOUSTON, Texas — Though the RadioShack electronics retail chain primarily crumbled following chapter filings in 2015 and 2017, the identify has survived for 100 years. In a bid to make RadioShack related for one more 100 years, the model’s new proprietor is making a play for one of many hottest, and most controversial, rising enterprise sectors on the earth – cryptocurrency.

Searching for to capitalize on RadioShack’s world model identify, Miami-based proprietor Retail Ecommerce Ventures is propelling RadioShack (as soon as primarily based in Fort Price) into the promising but murky territory of cryptocurrency. Cryptocurrency is digital forex constructed on a know-how platform often called blockchain; bitcoin is maybe the best-known sort of cryptocurrency. In November, the scale of the worldwide cryptocurrency market surpassed $3 trillion.

See associated story: Cryptocurrency game: Is here to stay or will it crash and burn?

“The necessity for a bridge between the CEOs who management the world’s firms and the brand new world of cryptocurrencies will probably come within the type of a widely known, century-old model. RadioShack is ideal,” RadioShack proclaims on its website.

Proceed studying about former Texas electronics big RadioShack reboots as cryptocurrency firm at ABC13’s associate Houston CultureMap.

See extra: Man who can’t remember Bitcoin password says he’s ‘made peace’ with $220M loss