Growth partnership company Frost & Sullivan and dedicated blockchain venture builder Outlier Ventures have evaluated the blockchain market and mapped 130 major blockchain start-ups into their key activity areas. The blockchain ecosystem made significant progress in 2016, with dozens of new companies, funding rounds and partnerships. Using Outlier Ventures’ Blockchain Ecosystem Tracker with over 1200 listed blockchain start-ups, Frost & Sullivan analysed the state of development.
Vijay Michalik, Digital Transformation Research Analyst at Frost & Sullivan, commented: “We are still at the beginning of a long journey for blockchain start-ups. Investment in 2016 reached an all-time high of over $500 million, bringing total investment in blockchain technology start-ups to $1.5 billion. While the technology’s ecosystem is still in its early phases, 2016 saw a clear progression away from cryptocurrency towards generalized financial services and enterprise infrastructure. The technology is also making new inroads into vertical industries like energy, healthcare and the automotive sector.”
Head of Research & Partnerships at Outlier Ventures, Lawrence Lundy noted: “Blockchains and distributed ledger technologies 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.”