Blockchain Startups Raised $822 million in Q2 2019
Henry Chan Jul 06, 2019 16:00
$822 million were raised by blockchain startups across 279 deals during 2Q 2019, as reported by the venture platform Outlier Ventures.
$822 million were raised by blockchain startups across 279 deals during 2Q 2019, as reported by the venture platform Outlier Ventures.
Out of 279 deals, 159 of these were seed stage deals which implied that more entrepreneurial talents are coming into the space. The report suggested that the surge in Bitcoin price is driven by the actual demand instead of the hype of the past.
The report highlighted that enterprise are now contributing open-source code to test the blockchain technology rather than testing the technology privately in the past. It indicated that Facebook has the biggest blockchain development in terms of payments and remittances. The author suggested that the social network like Facebook would evolve from an advertisement driven model to transaction-based revenue model.
The report suggested that governments are now actively involved to explore blockchain technology. For example, blockchain industry in Japan has gone from restrictive to self-regulated within 18 months. Moreover, when Facebook announced Libra’s whitepaper, the European Union and the US governments expressed their concerns and requested a halt on the cryptocurrency. On the other hand, the Bank of England’s governor, Mark Carney said the Libra coin could “substantially improve financial inclusion and dramatically lower the cost of domestic and cross-border payments.”
Thumbnail image credit: Shutterstock
Image source: Shutterstock
.jpg)