Study Claims Crypto Valley Doubled in Size Within One Year
Recent CV VC studies claim the volume of blockchain-focused businesses within the Switzerland Liechtenstein region has increased by double within the previous year.
A collaboration with CV VC, Strategy&, as well as inacta investigated the highest ranking fifty crypto centered businesses within both countries particularly focusing on a region in Switzerland dubbed the crypto valley. Initially starting out in the city of Zug, the crypto valley now occupies the majority of surrounding areas covering the remainder of the nation and parts of Lichtenstein.
According to the research, more than six hundred blockchain-based businesses are operating within the two countries employing over three thousand citizens. Together the fifty companies used in the research study produce a market cap of approximately $44 billion with five of those startups worth a billion dollars each.
Companies included in the study were required to meet a set of criteria with the main point being blockchain technology as a core focus. Another requirement sought out businesses that employed a minimum of one individual based in either of the two countries. Finally, all businesses analyzed in the study had to participate in the contribution of the further development or expansion of Switzerland’s crypto valley region. Other requirements included a minimum of $10 million available in funding, an overall value worth of $10 million, and were required to have employed at least ten individuals based in either country on a full-time basis.
The Top of the Crypto Food Chain
Five of the selected companies were given particular attention within the report due to their ability to have successfully surpassing blockchain peers in acquired values derived from a compilation of produced revenue, assets, and funding. CV VC also received detailed information about these companies from various sources including Crunchbase, CoinMarketCap, ICObench and other reputable sources of corporate info.
Among the top companies featured was Ethereum due to is highest ranked value. Although the platform had not originally been founded in the Switzerland area, the Ether Foundation is now based in the country producing over $18 million in VC funding. The total market cap for Ether currently stands at $23 billion.
Bitmain was yet another featured crypto giant occupying the second spot on the top fifty list with approximately $450 million produced in capital making the mining company’s total worth at the $12 billion range. Dfinity, a cloud platform functioning on blockchain technology, stood strong at third place with private funds totaling $195 million bringing its total market value up to $2 billion. The list continues highlighting the most prosperous and rapidly expanding businesses in the region.
Liechtenstein and its neighbor Switzerland have established themselves as nations that support the emerging technology, receiving significant payoffs for doing so according to the report. By openly facilitating the expansion and further development of blockchain related tech, both nations have been embraced by a flood of startups and heavily backed companies looking to establish themselves in an environment in which regulations and technology expansion can coexist.
During this time of rapid expansion, nations worldwide struggle with their stance on how to fit in the rapidly growing and complex technology. Whereas nations such as Malta have collaborated with Switzerland’s crypto valley initiatives, other nations including the United States struggle with defining policies and regulations.