The blockchain ecosystem made great leaps forward in 2016, with dozens of new companies, funding rounds and partnerships making headlines, reports growth partnership company Frost & Sullivan and Outlier Ventures, Europe’s first dedicated blockchain venture builder.
The two business have used Outlier Ventures’ blockchain ecosystem tracker, with over 1,200 listed blockchain start-ups, to develop the 2017 Global Blockchain Start-up Map, which evaluates the market and maps 130 blockchain start-ups into their key activity areas.
“We are still at the beginning of a long journey for blockchain start-ups,” said Vijay Michalik, digital transformation research analyst at Frost & Sullivan. “Investment in 2016 reached an all-time high of over US$500m, bringing total investment in blockchain technology start-ups to US$1.5bn.
“While the technology’s ecosystem is still in its early phases, 2016 saw a clear progression away from cryptocurrency towards generalised financial services and enterprise infrastructure. The technology is also making new inroads into vertical industries like energy, healthcare and the automotive sector.”
Lawrence Lundy, head of research and partnerships at Outlier Ventures, added: “Blockchains and distributed ledger technologies (DLTs) have seen high levels of interest and exploration from corporates in 2016. As the hype calms down, the next year should see real-world commercial deployments in specific value-add applications.”
Further information on the 2017 Global Blockchain Start-up Map is available from the corporate communications unit of Frost & Sullivan; contact Anna Zanchi at email@example.com
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