KPMG Reports Increased US Blockchain Spending in 2018
One of the top four auditing companies on the planet, KPMG, has published its latest fintech study that overlooks the first six months of 2018. According to the study, there is a much larger increase in blockchain spending around the world with the US as the top investing nation. Additionally, high net investors favor distinguished projects in terms of support over newly formed ones.
As reported in the study, investors were not only interested in pouring funds into just one location for blockchain-tech. Several successful investment offerings launched since January this year, with big-name projects like R3 drawing in over $100M and Ledger, located in France, reported $77M. It also reveals that the US has been spearheading blockchain investment since last year and has already exceeded 2017’s spending.
Block.one also managed to raise a massive four billion USD through its initial coin offerings, although the number raised was done over an extended period of time. On the plus side, KPMG is a clear and supportive firm towards the blockchain sector. Additionally, the company collaborated with the blockchain alliance on Wall Street (WSBA), a zero-profit company focusing on the expansion and adoption of blockchain technology within the financial industry.
The final and vital aspects of the report go hand in hand with several discoveries made by Autonomous NEXT, revealing a confirmed increase in blockchain related spending, however, more established and successful companies receive most of the funds while startups continue struggling. Financial tech spending is rising in every sector and not just with blockchain and the further it goes, the more chance of drawing in more interested participants towards blockchain-tech.