?Blockchain? won?t save your bad business from going bust

But when another tea maker, Ping Shan Tea Group, did the same thing, it hardly affected the value of its stock.The Hong Kong-based traditional tea maker changed its name to Blockchain Group in November 2017, but sadly the change didn’t have the impact the firm would have hoped for, South China Morning Post (SCMP) reports.Ping Shan Tea Group changed its name, seemingly, in a desperate attempt to appease shareholders and bump its share price. Fast forward to February 2019, and the company has gone into administration and its directors have stepped down, according to SCMP.Even though Bloomberg reports suggested that blockchain name changes were still having an impact in January 2018, the Hong Kong tea maker probably should have known better, as Long Blockchain Corp’s name change eventually prompted the Securities and Exchange Commission to investigate.For these shady companies, that’s the dream: add blockchain to name, watch stock price increase, profit.