VC Investment in Blockchain and Bitcoin Reached $290m in H1 2016

The total value of Venture Capital investment in Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term and Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term startups reached $290 million in the first half of 2016, according to Juniper Research - a UK-based fintech consultancy with prior experience in covering the cryptocurrency field.

The new research report - The Future of Blockchain: Bitcoin, Remittance, ID Verification & Smart Contracts 2016-2021 - shows that while over 30 ventures raised VC funding in that period, more than a third of all investment went to just 3 companies: Circle, Blockstream, Digital Asset holdings.

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The authors highlighted the increasing diversification of blockchain deployments, with applications ranging from identity to asset management. It pinpointed the banking sector as being particularly proactive, with several banks having already adopted the Ripple protocol and others piloting competing solutions.

The research claimed that in areas such as transaction settlement, the introduction of a blockchain-based system would substantially reduce both the risk of error and the time taken for error checking. Furthermore, it argued that in cross-border remittance, the technology could allow new entrants to offer services at significantly lower costs to consumers.

However, the research cautioned that if smart contracts use blockchain technology, then their contents, including, potentially, bugs or flaws, are visible to all the users of that blockchain. It cited the cyber attack on the DAO which cost investors nearly $80 million in stolen cryptocurrency.

The research author Dr Windsor Holden commented: "While blockchain technology offers the potential for increased speed, transparency and security across an array of verticals, there has to be rigorous and robust roadtesting in each unique use case before any decision is taken."