The Corporate Blockchain Boom
Corporate interest in Blockchain technology has been nothing short of explosive, with major players like Goldman Sachs, Google, and Citi leading the charge. Their strategy seems to be clear: when in doubt, throw money at innovation. According to the latest report from CB Insights, the financial sector has emerged as the darling of Blockchain investments, showcasing a level of enthusiasm that makes a kid in a candy store look like a wallflower.
Who Are the Top Players?
Among the noteworthy institutions making waves, SBI Holdings from Japan is stealing the spotlight, followed closely by tech behemoth Google and US-based retailer Overstock.com. It appears that financial services companies—notably the banks—were the first to dip their toes into the Blockchain waters, proving once again that where there’s money, there’s motivation.
Bringing the Big Bucks
As of mid-October 2017, there were 91 major companies with their wallets open to Blockchain technology investments. This figure is shockingly close to the 95 venture capital investments reported in total. Out of these corporate investors, which read like the Avengers of finance, over 50 hail from the global financial services realm.
Investment Figures That Astound
Now, let’s talk numbers. The ten largest banks in the US have collectively poured an impressive $267 million into Blockchain initiatives, contributing to a staggering $327 million in total corporate investment for the year 2017. Considering that from 2012 to 2017, total investments reached $1.2 billion, we’re witnessing a trend that’s hard to ignore. Numbers don’t lie, as the saying goes—unless they’re being misunderstood by a sleep-deprived accountant.
Why Blockchain?
As the report puts it succinctly, “Big banks and financial services firms were the first corporate players to make direct Blockchain investments en masse”. This statement isn’t merely a fluff piece designed to impress at cocktail parties; it’s a real testament to how Bitcoin’s underlying technology is panning out in the financial services realm—both technically and in the minds of many. It’s hard not to see its potential when traditional finance meets the new-wave tech of Blockchain.
Insights from CB Insights
CB Insights plays the role of the financial analyst’s best friend, diving deep into the financial market’s murky waters to extract shining insights. Their mission centers around monitoring private companies, investments, acquisitions, and emerging market trends. Their extensive venture capital database is known to contain real-time information on startups, investors, and partnerships, acting like a crystal ball for savvy investors aiming to make informed decisions.
