Venture Capital Blockchain Investments Approach $300 Million in H1 2016

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A new study from Juniper Research has found that the total value of Venture Capital (VC) investment into Blockchain technologies and Bitcoin companies totalled $290 million in the first 6 months of the year, with more than 30 startups receiving funding in that time. More than a third of all investment was accounted for by 3 companies:

  1. Circle – the social payment provider
  2. Blockstream – the sidechain developer
  3. Digital Asset holdings – the distributed ledger solutions provider

The new research report – The Future of Blockchain: Bitcoin, Remittance, ID Verification & Smart Contracts 2016-2021 – highlighted the increasing diversification of nascent Blockchain deployments, with applications ranging from identity to asset management. It pinpointed the banking sector as being particularly proactive, with several banks having already adopted the Ripple Blockchain protocol and others piloting competing solutions.

The research claimed that in areas such as transaction settlement, the introduction of a Blockchain-based system would substantially reduce both the risk of error and the time taken for error checking. Furthermore, it argued that in cross-border remittance, the technology could allow new entrants to offer services at significantly lower costs to consumers.

Smart Contract Flaw Poses Challenges 

However, the research cautioned that if smart contracts use Blockchain technology, then their contents, including, potentially, bugs or flaws, are visible to all the users of that Blockchain. It cited the recent case where a flaw on the DAO (Decentralised Autonomous Organisation) network was exploited by a third party, resulting in the misappropriation of cryptocurrency worth nearly $80 million.

According to research author Dr Windsor Holden:

“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.”

The complimentary whitepaper, ‘Blockchain Reaction’ is available to download from the Juniper website together with further details of the full research and the attendant Interactive Forecast Excel (IFxl).

Juniper Research is acknowledged as the leading analyst house in the digital commerce and Fintech sector, delivering pioneering research into payments, banking and financial services for more than a decade.

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), partner at ICO services collective CryptoAsset Design Group ($500m+ and 50+ ICOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur.

He sits on the advisory boards of some two dozen Blockchain startups
and has written over 1500 articles on Blockchain technology and
startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat

Ad honorem - Honorary Ph.d - Chair Professor of Blockchain at
China's first Blockchain University in Nanchang at the Jiangxi Ahead
Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business
Automation 4.0 programme. Chevalier (Knight) - Ordre des Arts et des
Technologies at Crypto Chain University and on advisory board of Advisory Board Member of International Decentralized Association Of Cryptocurrency And Blockchain (IDABC) as well as Advisory Board Member at U.S. Blockchain Association.

Over a half a decade experience judging and rewarding some 1000+
innovation projects as an EU expert for the European Commission's SME
Instrument programme as a startup assessor and as a startup judge for
the UK government's Innovate UK division. Kastelein has spoken
(keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, San Mateo, San Francisco, Santa Clara, Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich

His network is global and extensive. He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe

He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.

A journalist by trade, an entrepreneur and adventurer at heart,
Kastelein's professional career has ranged from political publishing to
TV technology, boatbuilding to judging startups, skippering yachts to
marketing and more as he's travelled for nearly 30 years as a Canadian
expatriate living around the world

In his 20s, he sailed around the world on small yachts and wrote a
series of travel articles called, 'The Hitchhiker's Guide to the Seas'
travelling by hitching rides on yachts (1989) in major travel and
yachting publications. 

He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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