Level of blockchain startup venture-capital funding worldwide 2016-2021

In the first quarter of 2021 alone, blockchain startup companies around the world amassed 2.6 billion U.S. dollars in venture-capital funding, more than the whole year of 2020. The surge in funding at the beginning of the year was a result of a few large rounds for blockchain startups such as crypto wallter provider Blockchain.com.

Blockchain technology overview

Blockchain is a form of tamper-evident distributed ledger of records, which offers businesses a secure way to record transactions across a peer-to-peer network. Still a relatively new phenomenon, organizations from countries around the world are rushing to introduce the technology into their businesses. Blockchain is perhaps best known for its use within cryptocurrency technology, but its potential use cases cover a much broader spectrum apart from digital currencies. Within companies, some of the most popular blockchain use cases include data validation, data access, and identity protection. More than 60 percent of surveyed global organizations planned to invest one million U.S. dollars or more on the deployment of blockchain solutions in their organizations in the year following mid 2020.