NEW YORK – The rise of blockchain technology has been a popular topic for a while now, and there are opposing opinions on its potential. To see how the blockchain industry is holding up after the turbulent years of COVID-19 and a decline in crypto markets, Coresignal, a leading public business data provider, conducted research, analyzing the trends of newly founded blockchain companies. It has been found that the number of new blockchain firms globally has decreased by 93.9% since 2018 (from 8,112 in 2018 to 492 in the first half of 2022).
Also, the report shows that most newly founded blockchain companies were located in the United States and United Kingdom. Comparing distribution between continents, when it comes to the total number of new blockchain firms in the period of 2018-2022, Europe takes the first place. Europe is home to almost 6,000 new blockchain firms , whereas N. America takes second place with nearly 5,000 newly founded blockchain companies.
Coresignal also analyzed the competitiveness in the job market of newly founded blockchain companies. It has been found that job competition among newly founded blockchain firms is relatively low compared to average numbers. On average, one corporate job posting attracts around 250 applicants. However, new blockchain companies capped at 26 applicants per job posting.
Another interesting finding is that the job competition in newly founded blockchain companies was highest in Africa, followed by Europe and South America.
Analyzing the investors’ interest, it was revealed that the most externally funded companies reside in the U.S. and operate in Financial Services or the Computer Software/Games industries.
The top three new blockchain enterprises residing in the U.S. received a total of $3.5 billion in funding, whereas the top three most funded Asian and European blockchain firms only received around $800 million and $140 million, respectively.
Source: Coresignal
