Blockchain Investment Seeing Exponential Growth, According to New KPMG Report

Blockchain has seen huge gains in the first half of 2018. A new report by accounting firm KPMG – called the Pulse of Fintech – discusses recent advances in the fintech industry. The report was particularly favorable to the blockchain sector.

Blockchain is experiencing exponential growth. According to the report, blockchain investment during the first-half of 2018 has ALREADY EXCEEDED total investment in 2017. The industry experienced a number of large financing deals. For example, both R3 and Circle Internet Finance raised more than $100 million each. Blockchain firm Paxos raised another $65 million during its latest funding round.

Heavy investment in blockchain is not a one-time occurrence. KPMG predicted blockchain investment will continue “gaining momentum” for the remainder of 2018. The firm pointed to blockchain’s widespread adoption by financial institutions. The technology is already used for a wide range of services, including recordkeeping, transaction registration, and supply chain management.

Further blockchain expansion will move beyond financial institutions however. KPMG concluded: “While it has primarily been looked at from a banking and insurance point of view to date, the reality is blockchain opportunities abound and could enhance processes for any number of U.S. and global businesses.”

To link to the KPMG report, go to https://assets.kpmg.com/content/dam/kpmg/xx/pdf/2018/07/h1-2018-pulse-of-fintech.pdf