Blockchain and bitcoin start-ups have raised almost $300 million (£231.2 million) in funding, in the first half of this year, Juniper Research claims. This goes to show just how important the new way of doing business and paying for goods and services is.
There are more than 30 start-ups in the world, which Juniper looked at for this research, and they’ve raised a total of $290 million (£223.5 million). A large part ($165m) went to just three companies: Circle ($60 million), Blockstream ($55 million) and Digital Asset Holdings ($50 million).
According to the report, banks are joining in on the fun, but the technology itself still has a long way to go: "While blockchain technology offers the potential for increased speed, transparency, and security across an array of verticals, there has to be rigorous and robust roadtesting in each unique use case before any decision is taken,” Juniper's Dr Windsor Holden said.
Blockchain is a new technology that allows for a more decentralised and transparent money transfer, but also has other uses. It is often confused with Bitcoin, as the cryptocurrency works on that exact principle. Every time someone makes a change on the blockchain, the majority of sides involved must sign off on it, before it can be complete. That way, there is no need for an intermediary.
Juniper’s full report can be found on this link.
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