Global Blockchain Revenues on Track to Hit Close to $10 Billion
OYSTER BAY, N.Y. — Global revenues for blockchain technology are on track to hit almost $10 billion by 2023, finds ABI Research, a global tech market advisory firm. These revenues continue to show strong interest in blockchain application, despite the significant decrease in Initial Coin Offerings (ICOs) in 2018. Investment continues to swell, buoyed primarily by an increase in VC funding, notably in blockchain infrastructure development.
VC funding is catching up to ICOs with 620 rounds totaling $3.1 billion in 2018, up from 153 rounds at $850 million in 2017.