Blockchain is a technology that has made an extensive impact on the business world. Blockchain data is supposed to be resistant to modification and securely accountable as a record of transaction. Companies in nearly every sector are on the move to take advantage of the benefits of the blockchain phenomenon and many are planning to adopt their own private versions of blockchain and cryptocurrency. The financial sector practically accounts for more than 60% of the market value of blockchain worldwide in 2018, but the technology has now spread to nearly every industry, ranging from healthcare to agriculture.
According to Statista, Worldwide spending on blockchain solutions is expected to grow from 1.5 billion in 2018 to an estimated 15.9 billion by 2023. According to the Global News wire, the global blockchain market size is set to grow at a CAGR rate of over 69% between 2019 to 2025. Also according to Statista, the number of registered blockchain wallets in the first quarter of 2020 was found at 47.14 million. Every second, 2.35 transactions are added to the blockchain mempool as of Q1 of 2020, as analysed by Compare Champ.
Here is a list of the top 10 blockchain startups around the world, in 2020:
1. Core Scientific
Core Scientific is a kingpin in Blockchain and Artificial Intelligence hosting, transaction processing and application development. With the world becoming increasingly distributed and connected, their Blockchain and A.I. will fundamentally switch the way information is processed, shared and stored across a wide range of industries. The company has appointed Former Microsoft GM Michael Trzupek as its CFO.
The startup’s mission is to become the premier AI and Blockchain provider, serving best-in-class infrastructure and software solutions. Core Scientific claims to have services for dedicated customer maintenance performed at the rack itself. The company has a sustainable approach with its energy consumption as 46% of it’s electricity usage comes from carbon-free sources. They have partnered with giants like intel, nVIDIA, CISCO etc.
Founding Year: 2017
Headquarters: Bellevue, USA
Founders: Aber Whitcomb
Total Funding: US$ 72M
Last Round of investment: Undisclosed amount in Series A
Paxos is a regulated financial institution that produces infrastructure to enable movement between physical and digital assets for its clients. The blockchain-based post-trade settlement solution provider has a number of products like Cryptobrockerage, Settlement Service, Post-Trade, Stablecoin as a Service, PAX Gold and itBit. The company has added distinguished luminaries including Sheila Bair and Senator Bill Bradley to its board, and has grown to 110 employees in three globally positioned offices.
The startup wants to make it possible for its clients to move any assets anywhere, instantly and through this democratize access to a new, global, frictionless economy. It operates within established regulatory frameworks while also creating innovative new products. This includes their work in tokenization of securities, precious metals and commodities, such as the Paxos Standard token, a digital dollar system launched in 2018.
Founding Year: 2013
Headquarters: New York, USA
Total Funding: US$ 93.3M
Last Round of Investment: US$ 65M in Series B
3. Dapper Labs
Dapper is a blockchain-based game developer, with games like Top Shot, Cryptokitties and Cheese Wizards under its sleeves. It has more than 500 developers and has 100 plus ongoing projects. Dapper provides beta testing facilities for shaping its new blockchain games and to make sure that people can get access to exclusive content before anyone else.
In October this year, the company had closed an US$ 18 million token sale on its latest collectibles game, NBA Top Shot. The company is known for its early success in clogging the Ethereum blockchain in 2017 with its CryptoKitties product. This startup has an estimated revenue range between US$ 10M and US$ 50M.
Founding Year: 2018
Headquarters: Vancouver, Canada
Total Funding: US$ 52.5M
Last Round of Investment: US$ 13.4M in Series B
Investors: Valor Capital Group, Union Square Ventures, Spencer Dinwiddie, Samsung Ventures, Republic Labs, REED, Pirata Capital Management, North Island Ventures, L1 Digital, JaVale McGee, Greenfield One, Garrett Temple, EONXI Ventures, Distributed Global, Coinbase Ventures, Blockchange Ventures, BlockTower Capital, Andreessen Horowitz, Andre Iguodala, Aaron Gordon and A.Capital Ventures
MegaHoot is a technology company that concentrates on secure private collaboration platforms, blockchain & smart home technology and cybersecurity. The company was re-engineered to focus on secure private collaboration platforms for business and personal use, incorporating ephemeral messaging, high security, use of cryptography and secure mobility. It has ventured into various industries from smart homes to health care, with the use of blockchain technology.
Utilising the company’s blockchain technology platform, corporations globally can create dedicated blockchain networks for their businesses for a wide variety of purposes from accounting, logistics, supply chain management, security, education, etc. Founded in 2011, Megahoot LLC is a wholly owned subsidiary of Falcon Global Acquisitions. It began as an alternative social media platform. It shut down in 2014 and later in 2016, its assets were purchased by FGA to create various technology and software solutions for global enterprises.
Founding Year: 2011
Headquarters: Tampa, USA
Founders: Louis Velazquez
Total Funding: US$ 51.5M
Last Round of investment: US$ 50M in Private Equity
Investors: FGA Partners
The company is building the first live pure Proof-of-Stake (PoS) CBC-Casper blockchain, which can be proved and designed for real-world applications. Its blockchain platform was purpose-built to scale opportunities for everyone. Aiming toward blockchain’s next frontier, CasperLabs is made for real-world applications without sacrificing usability, cost, decentralization, or security.
The company removes the barriers that stop mainstream blockchain adoption by making blockchain user-friendly, available globally open source and future-proof to support innovations for a long time period.
Founding Year: 2018
Headquarters: Zug, Switzerland
Total Funding: US$ 43M
Last Round of investment: US$ 14M in Initial Coin Offering
Investors: RockTree Capital, Blockchange Ventures, Chain Capital, Gate.io, Oasis Capital, Ropart Asset Management, Digital Strategies, Woodstock Fund, Waterdrip Capital, Cluster Capital, stakefish, Draper Goren Holm, Acuitas Group Holdings, Mapleblock Capital, Arrington XRP Capital
The company has experience in both blockchain and the life sciences industry. The life sciences industry is extremely complex in how pharmaceutical drugs move from manufacturers to patients in need. Along with the supply chain there are many regulatory requirements, complicated pricing, developing relationships and a large number of exceptions in different situations for how trading partners do business together.
For all these facilities, blockchain can be used by companies to have an influence over data and transactions they receive from partners and hence, automation can extend beyond internal systems.
Chronicled is the custodian of the MediLedger Network, an industry-led, blockchain-powered network in the life sciences industry. Its role is to provide administration and construct solutions for the MediLedger Network to facilitate trust and enable automation between trading partners.
Founding Year: 2014
Headquarters: San Francisco, USA
Total Funding: US$ 28M
Last Round of investment: US$ 16M in Series A
In 2018, Neufund became the first company in the world to digitize its equity and produce an ETO (Equity Public Offering). The equity is placed live on the blockchain as FTH tokens. Their innovation is presented as a legally-enforceable link between an on-chain token and real-world equity, making the offer compliant to local jurisdiction. This will make sure that through the company’s technology, any incorporated entity worldwide can conduct a public offering on blockchain. The startup has an estimated revenue range between US$ 1M and US$ 10M.
Founding Year: 2016
Headquarters: Berlin, Germany
Total Funding: €18M (Approx. US$ 21M)
Last Round of investment: €3.4M in Series A
Blockchain systems democratize information and asset transfers, making it easy for anyone, at any place, to complete a transaction. By design, blockchain transactions are irreversible, due to the public key cryptography that is used.
But, public key cryptography introduces a point of failure, which are private keys. Curv eliminates this point of failure by giving a secure, distributed way to sign transactions and manage digital assets.
The company’s state-of-the-art security technology is helping users build crypto finance products that safely transfer, store, and manage any digital asset on any blockchain or digital system for recording transactions. The company’s Research and Development office is located in Tel Aviv, Israel. Its enterprise-grade policy engine enables customers to define risk profiles and enforce granular policies to ensure only authorized transactions are allowed.
Founding Year: 2018
Headquarters: New York
Total Funding: US$ 29.5M
Last Round of investment: Undisclosed amount, in Series A
Investors: Illuminate Financial, Franklin Templeton Investments, Digital Currency Group
9. Xage Security
The company consists of Security and IoT experts who produce blockchain based security products and industrial automation solutions which are used by 1,000 companies around the globe. They use their experience enabling high growth markets to deliver its decentralized platform for protecting Industrial Internet of Things (IIoTs). Xage Security has won numerous awards like mention in 5 Coolest Blockchain Security Startups To Follow In 2019 by CRN and Top 25 IoT Startups to Watch In 2019 by Forbes.
Founding Year: 2016
Headquarters: Palo Alto, USA
Total Funding: US$ 16M
Last Round of investment: US$ 4M in Series A
Factom Inc. is a blockchain innovations company, founded when its founders recognized bitcoin’s limitations to be a practical blockchain for Enterprise data solutions. Factom has built its blockchain as open source and has reached full decentralization in May 2018. Using their Series A funding, the company built Factom Harmony, which is a Blockchain-as-a-Service platform. Factom Harmony gives a full suite of REST APIs and managed services for the customer to build blockchain capabilities into their applications, systems, and processes.
The company provides Blockchain-as-a-Service platform for data provenance and integrity solutions built on its blockchain. They help their customers and partners build business-ready apps that preserve evidence, demonstrate compliance, increase process transparency, streamline audits, reduce cost, and automate transactions, without any cryptocurrency exposure or costly infrastructure.
Founding Year: 2014
Headquarters: Austin, USA
Total Funding: US$ 15.5M
Last Round of investment: US$ 6M in Venture Capital
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