52% of the most successful companies have invested in blockchain
Date: 2023-06-23 Author: Karina Ziganova Categories: BUSINESS
Since the beginning of 2020, more than 50% of Fortune 100 companies have invested in cryptocurrency projects. This is stated in the Coinbase report, reports The Block.
Only 52% of Fortune 100 corporations have been investing in blockchain since the beginning of 2020. As of the second quarter of 2023, 70% of these firms were in the public launch phase.
"These companies are innovating and investing in new technologies because they know that the century-old financial system needs to be updated, and blockchain can be a fundamental solution. Lagging behind it will mean losing ground in this global economy," Coinbase said.
However, regulatory uncertainty and the lack of clear rules for the crypto industry are the main obstacles to the development of this area.
"The U.S. risks losing 1 million jobs for web developers and another 3 million related jobs to other countries by 2030 if they continue on the path of coercive regulation," the study said
Corporations exploring NFTs
The study also states that non-fungible tokens (NFTs) are probably not the main focus of investment for Fortune 100 companies. However, they stimulate the development of Web3 initiatives in the retail sector. Thus, 199,347 transactions of these companies in the United States received a combined royalty income of about $101.3 million from 118,354 consumers.
In total, NFTs accounted for 11% of the total number of investments in the web3 and blockchain spheres. At the same time, investments in financial services accounted for 24%, while in DeFi they accounted for only 1%.
Investors withdrew half a billion
Over the past two months, investors have withdrawn a record amount from crypto funds — $417 million, mainly withdrawn money from investors from North America, they account for 87% of the total capital outflow.
Bitcoin (BTC) has become the leader in the outflow of money - investors withdrew $52 million over the past week. According to analysts, the sharp outflow of money from crypto funds may be related to the monetary policy of the US Federal Reserve.
