CB Insights, an analytical company, recently published a 2019 report on blockchain technology investments. Presented the highest investments made in this sector.
Top investments in blockchain
Despite a decline in investment in the fourth quarter of last year, blockchain technology has been widely used in business applications. The report states that the total capital financing of this space, a measure of investor enthusiasm, has decreased by more than 30%. While references to technology in public revenue transcriptions have also decreased.
The report pointed out that while entrepreneurs have submitted innumerable cases of blockchain technology, ranging from supply chain monitoring to financial asset settlement, the very adoption and handling of cryptocurrencies has taken care of the strongest adoption.
Last year, there was a 28% decline in funding – from a peak in 2018 to $ 4.3 billion. The first two fundraisers in 2018 were the Bitmain cryptomining hardware company and the San Francisco-based Coinbase cryptoexchange, which raised $ 400 million and $ 322 million, respectively.
In the fourth quarter of 2019, companies increased investment by $ 785 million, down 36% from the fourth quarter of the prior year. However, the quarter still surpassed Q1 and Q2 in 2019, with investors’ interest directed specifically to business applications.
Which companies got the most
Highest investments acquired company Ripple $ 200 million.
Figure Technologies came second with $ 103 million and continued to develop its blockchain-based platform, allowing the company to lend for housing in just five minutes.
Digital Asset Can Receive $ 35 Million to support its language model Digital Asset Modeling Language (DAML) for faster settlement of financial assets. PeerNova then received $ 31 million in market expansion and product development.
Layer1 also reportedly raised $ 50 million in the last quarter of 2019 to build a solar and wind power plant for bitcoin mining in western Texas.
Cryptocurrency growth is not the fastest thing to do. On the other hand, the use of blockchain is constantly and quite rapidly expanding, attracting investors from various areas. We will see what 2020 brings.