The Number Of Blockchain Startups In Switzerland And Liechtenstein Grew By 20%

Despite the long-lasting bear market, called the “crypto winter”, the number of blockchain companies in Switzerland and Liechtenstein continues to grow, according to a report from CV VC, the Swiss investment company.

According to CV VC, the number of companies operating with Distributed Ledger Technology (DLT) which were based in Switzerland or Liechtenstein, reached 750 by the end of December 2018. It means that, compared to the previous data, this number increased by 20%; 121 new companies have been registered during this period.

While noting the growing volume of the enterprises in the region, the authors of the report also indicate that the fall in cryptocurrency prices led to a decline in the market value of the 50 largest blockchain companies in Switzerland and Liechtenstein from $44 to $20 bln, which is almost 55%. The 50 leading companies mentioned in the study employ approximately 480 people. In total, about 3,300 people are employed in both countries; most of them work in Zug and Zurich.

It is also worth noting that there are four “unicorns” registered in the region (startups worth more than $1 bln). These are Bitmain, Cardano, Dfinity Foundation and Ethereum.

Illustration: Medium