Cryptocurrency

Development of the technology Blockchain in Europe

To start, it is important to note that the financial services, health care and energy are the main industries for the development of the technology Blockchain in Europe.

For its part, Ethereum, is the base layer for nearly one-third of the new technology companies of accounting for decentralized (DLT), which come out of Europe.

But, if the corporations in europe are increasingly adopting the technology Blockchain, the figures of financing of the region are still significantly below the figures seen in places like the united States.

Ethereum dominates the start of the Blockchain in Europe

Enterprise Blockchain 2020, the firm’s european venture capital LeadBlock, revealed in its report that Ethereum is the network leader for new ventures DLT in the region. In addition, the figures in the report show that 27% of start-ups Blockchain in Europe, they build their solutions in Ethereum.

Also, according to the report LeadBlock, the competition between the networks, Hyperledger and Corda, is helping to create a technology ecosystem DLT stronger in Europe.

In addition to building solutions based on the technology Blockchain, LeadBlock reported that 70% of these crypto startup, also combining DLT with at least one complementary technology. For example, Artificial Intelligence (AI), the Internet of things (IoT) and Machine Learning.

A digest of the report exposes:

“We see the technology Blockchain, as an enabler, which becomes particularly powerful when combined with other technologies”.

In the same way added: “The startups that take advantage of the convergence, are more likely to create long-term value, due to the complementarity of technological.

Applications of Blockchain in companies. Source: LeadBlock Partners

European and american investment in DLT

At the same time, LeadBlock, indicates that the startups that europe are behind their american counterparts. In fact, the united States represents half of all global investment in the technology Blockchain.

According to the report, the european ecosystem of Blockchain, requires greater participation of investment companies in risk capital.

Use in the financial services sector

Since the first implementations of DLT is focused on payments, it is not surprising that the novel technology is finding increased use in the financial services sector.

For this reason, the finance represent 28% of new european companies. Is more, the health care, energy and agriculture are the other main points for the development of the technology Blockchain in Europe.

Development of the technology Blockchain. Source: LeadBlock Partners

Therefore, the four industries together, account for nearly two-thirds of the adoption of collective DLT, of the european companies.

The adoption of Blockchain european business

On the one hand, Corda is the platform infrastructure for leading financial services applications based on Blockchain in Europe. On the other, Hyperledger represents the majority of the activities in the agricultural industry, and the majority of these projects focus on the traceability of food.

The focus for the developers of DLT’s european business appears to be the tokenization. Therefore, Ethereum is leading the way in industries such as real estate and the arts.

To that end, the report LeadBlock indicates a growing appreciation for the use of technology Blockchain business in Europe. Therefore, according to the document, the current trend of adoption of DLT corporate, is replacing the fashion of digital assets from the first few days.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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