In late May, the Outlier Ventures research team announced the launch of the world’s most comprehensive blockchain startup tracker.
Since its introduction, the Outlier Ventures research team has added nearly 1,000 blockchain startups in the tracker with various information including the details to their projects and other valuable information.
Amongst the positive feedback the research team received, investors and startups voiced their opinions on adding location to the database of the blockchain startup tracker, to analyze recent trends of various blockchain startups.
Undertaking the request, the Outlier Ventures research team immediately added the country and region for all 967 startups in the tracker. After doing so, the organization discovered a few intriguing trends in the blockchain ecosystem today.
UK against the US
As predicted by many venture capital firms, the US has been the dominant player in the blockchain market, with more than 38.9% of the world’s blockchain startups headquartered and registered in the country. The UK came in second, falling behind the US by 22.2%. The third place was secured by Canada with 3.3% and China closely came in fourth, with 3.2%.
Almost half of the world’s blockchain startups are based in the US and as are venture capital firms and angel investors that funded these startups. However, the Outlier Venture research team suggests that London is the center of the blockchain and fintech scene for a few key factors.
Since the beginning of 2016, London has been offering bitcoin and blockchain startups an ideal regulatory environment and opportunities for them to grow. The UK Financial Conduct Authority (FCA) stated in February of this year that the organization does not plan to regulate the blockchain industry to allow it grow to its full potential.
The regulatory leeway immediately attracted blockchain startups from all the around world in many different industries. The Outlier Venture research team states that London’s blockchain startups are involved with many different industries and are testing various use cases for the Insurance market, financial services sector, and settlement and clearing industry.
“The UK is, unsurprisingly, heavily-weighted toward blockchain use cases in FinTech. With 115 companies that we know of there is a lot of diversity but we do see a lot of companies building products around settlement and clearing, insurance and financial trading,” explained the research team.
By numbers, the UK is significantly behind the US. In diversity, it is ahead of any other countries and regions in the world presently.