Early stage companies located in the European Union region have raised more funds via Initial Coin Offering (ICO) in comparison to start-ups in other parts of the globe over the last 36 months.
The ICOWatchlist analysis shows that about half of the ICO funds that have been raised over the last three years have been by blockchain companies based in Europe. These European companies have raised about $1.8 Billion of the almost $4 Billion that companies have raised through ICOs over the period under consideration – the North American Region follows with $1.1 Billion in ICO Funds.
These figures are beginning to show curves and graphs behaviors that project that Europe might be the crypto power house over the next couple of years – the number of blockchain based start-ups coming out of Europe seems to be increasing by the week.
Though not backed up by empirical figures, the ICOWatchlist team has also noticed that a good number of ICO teams are decentralized so much so that sometimes prominent team members are based in a different jurisdictions from where the companies are headquartered. This might actually be giving true meaning to the mission of decentralization that is characteristic of blockchain technology.
A complimentary report by Atomico shows that Europe has the most bitcoin nodes; Europe has over 5,000 bitcoin nodes with the United States coming in second with a little over 3,300 bitcoin nodes.
It is believed that with the establishment of more blockchain start-ups coming out of the European Union, wider adoption of cryptocurrencies within the region might even come faster than expected.