Grandshores Technology, a Hong Kong-based construction and blockchain-related enterprise, is to shift its focus to the medicinal and industrial cannabis market in an attempt to revive business after the recent crypto winter.

According to co-chairman Yao Yongjie, the company will invest a large percentage of its capital resources, which was previously going towards blockchain venture alone, to make industrial cannabis its new business target.

This change in focus came shortly after the company finalized its latest partnership with a hemp research department in Heilongjiang province, which will be led by its recently formed unit backed by the Hangzhou municipal government, Hangzhou Yupu Trading.

“Both blockchain and industrial cannabis are the future, and both are embraced by the younger generation. Grandshores Technology is a company that invests in the future and we are always on the search for new business growth opportunities,” said Yao.

Earlier in 2019, London Stock Exchange Group’s technology solution provider adding Hong Kong-based fintech ATOM Group to launch its cryptocurrency exchange platform AXX, which leverages ATOM’s matching engine, as The Crypto Sight reported.