David Slater, Director of International trade and investment at London & Partners, wrote at CityAM in London last week that London’s fintech sector attracted almost a quarter of all investment into London tech businesses last year – and there are no signs of this slowing in 2016.
Investors have already shown a strong appetite for platforms like peer-to-peer lending and crowdfunding, but
in 2016 the focus will shift towards blockchain.
Last year was a breakthrough year for blockchain. In the space of 12 months, we saw the world’s leading banks put their weight behind the technology, Nasdaq announce plans to open a blockchain platform, and the Australian stock exchange come out publicly saying it is “seriously considering” replacing its current clearing and settlement system with blockchain technology.
The blockchain platform has huge potential to revolutionise the way we exchange goods and services. It is an enabling technology. Take the music industry. A number of high profile artists, including Imogen Heap, recently put forward a strong case for using blockchain to empower musicians, by allowing them to have greater control over contracts and the way users interact with data.
As more commercially viable uses for blockchain emerge, we will see considerably more investment in blockchain startups in 2016.
Slater adds that these conditions create a perfect storm for investors – opportunity and return – and 2016 will be another record-breaking year for investment into London’s tech sector.
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