Investment on Blockchain startups should crack $3 billion by the year-end with funding in 2017 to date standing at $2.4 billion, up 340% on 2016. Investment in distributed ledger technology is led by the US, ahead of the UK in Ireland, Singapore and China, with payment infrastructure the top-funded sector, according to research from Novum Insights.
It is important to remember that it is still early days for blockchain development, with much hype surrounding the market, cautions Novum Insights. ”For this reason, we think constant data vigilance of the sector is of the utmost importance.”
Novum isn’t alone here. Willian Magnuson, associate professor of law at Texas A&M University warns that fintech has the potential to create instability and disruption and may contain the seeds of the next financial crisis. He believes the fintech sector has not yet developed the kind of unwritten norms and expectations that guide more traditional financial institutions.
Image: Novum Insights