ABI Research predicts boom times for blockchain startups

Global revenues for blockchain technology are set to hit $10 billion by 2023, with the retail sector playing a key role, according to ABI Research.

VC funding is catching up to Initial Coin Offerings (ICOs), with 620 rounds totalling $3.1 billion in 2018, up from 153 rounds at $850 million in 2017. 

“Tighter regulation (including securities) and taxation (as foreign currency, income, financial asset, etc.) on cryptocurrencies in a number of countries are prompting investors to look beyond ICOs towards more stable VC-based investment for blockchain startups focusing on support infrastructure, retail, supply chain, and enterprise applications,” says Michela Menting, Blockchain & Digital Security Research Director at ABI Research.

“While the crypto winter has dampened spirits somewhat despite successful completion of many pilots, the dip in enthusiasm is temporary and will serve to filter out the superficial and fraudulent offers from the market,” Menting concludes.

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