Yet another company seems to be benefitting from the cryptocurrency boom, without actually having anything to do with digital money at the moment.  By simply changing its name to something familiar sounding in the crypto-world, the company is now seeing a giant increase in value.

This Hong Kong based startup shows no revenues, nor an actual phone to allow for contact, yet its value has increased by close to 1,000 percent this year, after it changed its name from, “JA Energy,” to, “UBI Blockchain Internet, Ltd.,” back in November of 2016. It is a subsidiary of Almost Never Films Inc.

The company (OTCMKTS: UBIA) doesn’t show any significant operations and has only 18 employees, according to information shared by Yahoo Finance. Regardless of this fact, the company is sitting at a value of close to $1.2 billion, seemingly due to adding the word, “blockchain,” to its name last year.

The company now plans to sell an additional 72.3 million shares owned by its top executives, according to information shared by regulatory filings. However, when reporters working for Bloomberg attempted to get in touch with UBI Blockchain Internet, Ltd., to get more information from its management staff, they discovered that the company’s phone number had been disconnected.

According to its filings with the U.S. Securities and Exchange Commission, the company has plans to develop a solution based on blockchain technology to, “trace a food or drug product from its original source within the context of the Internet of Things to the final consumer.”

Amidst all the blockchain and crypto hype, many scholars and advisors warn against investing in companies that are jumping on the name changing bandwagon and claiming to be involved with blockchain. One such skeptic, Charles Lee, who is a professor of management and accounting at Stanford University, states, “The profile of this company is scary. Blockchain is right at the apex of saliency right now. But you have this problem because it’s hard to verify anything — the technology, the fact that it’s in China. You certainly don’t want to own this stock.”

UBI Blockchain Internet Ltd. is only one of several companies trying to cash in on the popularity of digital currency and what’s behind it.  While some companies are changing their name to reflect a relationship to the crypto world, others are newly established companies hurrying to join the frenzy.

This dilemma poses the question, “Should investors put their trust in any company that has the word, “blockchain,” somewhere in its name, or any word related to crypto currency for that matter?