Vijay Michalik, Digital Transformation, Frost & Sullivan, and Lawrence Lundy, Head of Research & Partnerships at Outlier Ventures, comment on the key findings
LONDON, March 27, 2017 /PRNewswire/ -- The blockchain ecosystem made great leaps forward in 2016, with dozens of new companies, funding rounds and partnerships making headlines. Using Outlier Ventures' Blockchain Ecosystem Tracker with over 1200 listed blockchain startups, Frost & Sullivan and Outlier Ventures have evaluated the market and mapped 130 major blockchain startups into their key activity areas.
"We are still at the beginning of a long journey for blockchain startups. Investment in 2016 reached an all-time high of over $500 million, bringing total investment in blockchain technology startups to $1.5 billion," said Vijay Michalik, Digital Transformation Research Analyst at Frost & Sullivan. "While the technology's ecosystem is still in its early phases, 2016 saw a clear progression away from cryptocurrency towards generalized financial services and enterprise infrastructure. The technology is also making new inroads into vertical industries like energy, healthcare and the automotive sector."
Lawrence Lundy, Head of Research & Partnerships at Outlier Ventures noted: "Blockchains and distributed ledger technologies have seen high levels of interest and exploration from corporates in 2016. As the hype calms down, the next year should see real-world commercial deployments in specific value-add applications."
To find out more on the 2017 Global Blockchain Startup Map, or to schedule an interview, please contact Anna Zanchi, Corporate Communications: email@example.com
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.
About Outlier Ventures Ltd
Outlier Ventures is Europe's first dedicated blockchain venture builder. It services Outlier Capital LLP, Europe's first blockchain venture fund, developing, supporting and growing its joint ventures with entrepreneurs, academic institutions, start-ups and corporate venturing arms. For more information visit: https://outlierventures.io/
SOURCE Frost & Sullivan