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RESEARCH PRODUCT
Disrupting Industries With Blockchain: The Industry, Venture Capital Funding, and Regional Distribution of Blockchain Ventures
Maximilian FriedlmaierAndranik TumasjanIsabell M. Welpesubject
FinanceMatching (statistics)Blockchainbusiness.industrymedia_common.quotation_subject05 social sciencesDistribution (economics)020206 networking & telecommunications02 engineering and technologyVenture capitalBusiness modelPaymentService (economics)0502 economics and business0202 electrical engineering electronic engineering information engineeringEconomicsDisruptive innovationbusiness050203 business & managementIndustrial organizationFinancial servicesmedia_commondescription
The blockchain (i.e., a decentralized and encrypted digital ledger) has the potential to disrupt many traditional business models. This study investigates the emerging blockchain business-application landscape by analyzing its industry, venture capital funding, and regional distribution. We do so by matching four venture databases on blockchain-based startups. First, our results show that blockchain startups are most prominently represented in the Finance & Insurance and Information & Communication industries. A fine-grained analysis of financial services yields increasing novel applications in existing service offerings – especially in payment networks and processing. Second, consistent with the first result, we find that mainly Finance & Insurance and Information & Communication industries are funded by venture capital. Third, our regional distribution analysis of the emerging ventures identifies two leading geographical blockchain clusters (i.e., the US and UK). Overall, our study contributes to the literature by providing one of the first analyses of blockchain-based business applications.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2016-01-01 | SSRN Electronic Journal |