Blockchain Investments Move from USA to China

New York-based research firm CB Insights released a report on March 11 that shows Chinese startups are starting to significantly increase their blockchain investments. The report emphasizes that in 2015, deals from America-based companies accounted for 51% of the technological growth of blockchain, from China-based only 2%. Currently, the situation has changed in favor of China. The data show that in 2019, the percentage of deals concluded with American startups fell to 31%. China's market share has grown to 22%.

Tomer WEISS, co-founder and head of partnerships at Upright, explains that most of China's investment in blockchain is aimed at implementing the infrastructure of enterprises and the state. Significantly less money is spent on developing DeFi solutions.

The CB Insights report also concludes that Bitcoin continues to perform as a risky asset, therefore it is not yet a store of value. However, the study ensures that companies will continue to create and release products that benefit the evolving blockchain ecosystem.

Image courtesy of 48coins