US Blockchain Spending This Year Already Crosses The Total In 2017

BTC Wires: It appears that by the time we have reached the eighth month of this year, the United States has already spent more on blockchain than it had in the whole of last year, 2017. According to the bi-annual report published by KPMG, called the “The Pulse of Fintech”, the spending in the sector of blockchain business has been massive throughout the course of this year. One of the major tax advisory service companies globally, KPMG had conducted a review of the spending on businesses across various regions in the world. The report showed that the first and second quarters of 2018 had seen investors like venture capitalists being more and more interested in business spending. However, the report indicated that the investors were more intent on working with established firms and developed industries rather than with start ups in nascent areas of blockchain use.

As the report said, the interest of investors in blockchain was spread over a bunch of areas. The half of 2018 saw substantial amounts of funding with Circle Internet Finance and R3 in the US getting over $100 million in the funding rounds and France’s Ledger getting about $77 million in funding. The US was a key country with notable increases in funding of the blockchain industry, with total investment going over and above the total that had been witnessed last year.

Asia maintained its leadership in total fintech spending beyond the ambit of blockchain but he United States managed to top the charts with regard to blockchain investments specifically.

According to CCN reports, BitMain which has a strong presence in China and works with Application Specific Integrated Circuit (ASIC) mining rigs, is making plans of expansion into areas such as Texas and Washington. Despite having long deliberations regarding regulation of digital currency, especially in the Securities and Exchange Commission or SEC, it appears that the US continues to have rather attractive regulatory rules with regard to both established and new businesses.

Dmitriy

Having majored in Social Psychology and Economics, I worked as a team lead of a tech and fundamental analysis lab in the Applied System Analysis Research Institute. I write financial articles for various international media. I also hold the position of a Chief Analyst at RoboForex.