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Blockchain founders raised $822m by Q2 – with enterprises focused on open source

Blockchain founders raised $822m by Q2 – with enterprises focused on open source
According to the latest State of Blockchains report from
Outlier Ventures, blockchain startups raised $822 million by Q2 – but the
ecosystem continues to lag behind the 2017 and early 2018 peak.

$822m was raised across 279 deals over the second quarter of
2019, with more than half of them being seed stage deals indicating continued
fresh talent into the space.

Yet while the numbers may be lower, the scope is much more
advanced – particularly with how enterprises are associating with the

The report explores case studies which will be familiar to
readers of this publication. Last month The Block reported
that retailer Target had posted a job advert for a blockchain engineer, with
the right candidate being able to contribute to ConsenSource, a certificate
registry blockchain application based on Hyperledger Sawtooth. The company’s
interest in blockchain has been noted, working with agribusiness provider
Cargill on a Hyperledger-built project around the supply chain.

Target was cited, alongside EY and Western Union, as
organisations embracing open philosophies. Blockchains for provenance continue
to be the largest enterprise use case, the report says, with ‘a direct impact on
retail customers.’ Plenty of other retailers have been involved in recent
projects, from
Carrefour , who announced positive results, to more regular work from
Walmart .

IEOs (initial exchange offerings) were also cited as having
had a particular impact – ‘indicating an interest from the retail market in
still backing new token-based projects’.

“Unlike the hubris of 2017, the nature of tokens that are
seeing traction today have better-defined ecosystems associated with them, trading
infrastructure has evolved substantially and regulatory compliance has become
easier for institutional giants,” the report noted. “With this in context – it is
safe to suggest winter is finally over and we may witness a full-blown summer
around Bitcoin’s halvening next year.”

Outlier Ventures has also launched a new project with 18
organisations which aims to enable a new open data economy built on decentralisation.
The initial members are varied and interesting, including T-Mobile, SAP and Jaguar
Land Rover, and represent a key stakeholder across its particular industry to
create an open, decentralised web.

“The last 25-year computing cycle has been dominated by the
platform and the cloud, with obscene value creation for a handful of
corporations. However, there is a growing awareness about the trade-offs of the
cloud platform and a developed understanding of the benefits of decentralised
technology, unlocking a new truly peer-to-peer value exchange,” said Jamie
Burke, founder of Outlier Ventures in a statement.

“The Alliance is the first manifestation of a
counter-narrative and a signal of the paradigm shift that’s about to come.”

The Block spoke with Burke at the Blockchain Expo Global event in London around the data and platform monopolies which exist today. Take a look at what he said below:

Interested in hearing more in person?  Find out more at the  Blockchain Expo World Series , Global, Europe and North America.
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