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Blockchain Report – November 2016
Tracxn
World’s Largest Startup Research Platform
2
Blockchain Report – November 20163
Contents
Topic Page No.
Scope of Report 04
Entrepreneur Activity 06
Investment Trend 11
Who is Investing 19
Exit Outlook - IPO, Acquisitions 23
Sub Sector Analysis 25
Interesting Companies 43
Useful Links 54
Company List 57
Team 137
Blockchain Report – November 20164
Sector Overview
Scope of Report:
This report is a quantitative analysis on the funding and founding data on 600 companies that are working on the distributed ledger
technology to optimize business processes for enterprises and create newer peer-to-peer markets for consumers.
Blockchain, the technology underpinning Bitcoin, the cryptocurrency is an ecosystem level solution that has been seen by any as the
technology possessing the potential to unlock operational efficiencies across businesses in Financial Services, Healthcare, Retail among
others.
Summary of Insights:
• The year on year companies founded stands at 113 as of September 2016, compared to 193 for 2015, this data point suggests a
market correction in terms of adoption of more realistic use-cases against the panacea sentiment propelled during peak hype levels
of 2015.
• The year on year Dollars invested in Blockchain companies was at $304M as of September 2016, compared to $225M in 2015
suggests a bullish investor take on the technology, however, this can also be attributed to new investors’ interest, driven by media
hype.
• The year on year distribution of funding rounds stands at 26/42 (seed/early) as of September 2016, as compared to 25/54 for 2015,
with no late stage rounds coming up in both years, this data point suggests that:
• the industry is still in nascent stage which can be alternately explained by founders experimenting with multiple use-cases,
thereby increasing the potential for seed stage investments in the space
• while early stage still appears to be stagnant over 2015-16, considering there are 3 months remaining in 2016, this can be
attributed to a decrease in number of companies advancing to the next level, accompanied by an increase in new use-cases being
added to the pipeline.
Blockchain Report – November 2016
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
5
Blockchain Report – November 2016
2 4
15
57
208
194
113
0
50
100
150
200
250
2010 2011 2012 2013 2014 2015 2016
NumberofCompanies
6
YoY – Number of companies founded
Ideapod Mirror Ripple PeerNova Blockstream Symbiont FirstBlood Technologies
My Market Partners uTrade Bitfury BitGo Digital Asset Holdings Tech bureau Lab Onchain
Blockchain Report – November 20167
Large Upcoming Sectors
No. of Companies
Founded
Average
Age
No. of Companies
Funded
Business Model
Total
Funding
Example
71 Sep-2014 14 Consumer $25M
First Blood Technologies
2016, Boston
16 Sep-2014 3 Enterprise > Governance solutions $268K
Democracy Earth Foundation
2012, San Francisco
14 Sep-2014 0 Technology > Blockchain Education -
The Distributed Ledger
2016, Nashville
27 Aug-2014 8 Financial services > Investing $3M
PeerHood
2016, San Francisco
17 Aug-2014 4 Financial services > Banking $1M
MONI
2014, London
17 Jul-2014 9 Financial services > Risk management $24M
Skry
2013, Mountain View
15 Jul-2014 4
Financial services > Investing >
Crowdfunding
$3M
Waves Blockchain Tokens
Platform
2016, Moscow
13 Jul-2014 3 Consumer > Social networks $4M
Status
2015, Berlin
Blockchain Report – November 20168
Niche Upcoming Sectors
No. of Companies
Founded
Average
Age
No. of Companies
Funded
Business Model
Total
Funding
Tracxn Picks
11 May-2015 0 Financial services > Insurance -
Soramitsu
2016, Tokyo
10 Apr-2015 1 Consumer > Digital Content $2M
Decent
2015, Geneva
9 Jan-2015 1
Enterprise > Record Keeping >
Electronic Health Records
$250K
burstIQ
2015, Denver
7 Jan-2015 1 Consumer > Energy $60K
The Sun Exchange
2014, Cape Town
4 Sep-2014 1 Consumer > Gaming platform $6M
FirstBlood Technologies
2016, Boston
10 Aug-2014 3
Financial services > Risk management
> Payments
$21M
BitGo
2013, San Francisco
11 Jul-2014 4 Financial services > Trade Finance $3M
Fluent Network
2014, St. Louis
11 Jul-2014 3 Technology > Sidechain $77M
Blockstream
2014, San Francisco
Blockchain Report – November 20169
Niche Upcoming Sectors
No. of Companies
Founded
Average
Age
No. of Companies
Funded
Business Model
Total
Funding
Tracxn Picks
8 Jul-2014 1 Enterprise > Supply Chain $2M
InstaSupply
2014, London
7 Apr-2014 1 Enterprise > Internet Of Things $12M
Filament
2012, Reno
9 Jan-2014 3 Financial services > Accounting $3M
Love Will Inc
2014, St. Louis
13 Nov-2013 7 Enterprise > Security $13M
Guardtime
2007, Irvine
7 Apr-2012 3
Financial services > Payments >
Loyalty & Rewards
$2M
Loyyal
2014, San Diego
Blockchain Report – November 2016
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
10
Blockchain Report – November 201611
YoY – Number of Rounds and Total Funding
Note: The funding includes debt rounds also.
$8M
$1M
$8M
$137M
$225M
$304M
1
3
10
60
85
72
0
18
36
54
72
90
0
70
140
210
280
350
2010 2012 2013 2014 2015 2016
NumberofRounds
FundingAmount(inMillions)
Funding Amount Number of Rounds
Blockchain Report – November 201612
YoY – Number of Rounds by Stage
2
9
44
54
42
1
10
25
261
0
18
36
54
72
90
2012 2013 2014 2015 2016
NumberofRounds
Seed Early Late
Blockchain Report – November 201613
YoY – Funding by Stage
$1M $8M
$55M
$29M
$42M
$80M
$193M
$260M
$83K
0
70
140
210
280
350
2012 2013 2014 2015 2016
TotalFundingAmount(inMillions)
Seed Early Late
Blockchain Report – November 201614
Average Ticket Size – Early Stage
$0.4M $1.1M $1.7M
$0.8M
$1.5M
$12.4M
$7.7M
$13.7M
$19.9M
$28.5M
0.0
6.0
12.0
18.0
24.0
30.0
2012 2013 2014 2015 2016
FundingAmount(inMillions)
Seed Series A Series B
Blockchain Report – November 201615
Top investments in last one year
Company
Funding
Amount
Round
Name
Date Investors
digitalasset.com
Digital Asset Holdings
(New York City, 2014)
$60M Series A Jan-2016
ABN AMRO Bank, Accenture, Australian Securities Exchange, BNP Paribas, Broadridge
Financial Solutions, Citigroup, CME Group, Deutsche, ICAP, J.P. Morgan, Santander
InnoVentures, DTCC, PNC Financial Services Group, Goldman Sachs, IBM
blockstream.com
Blockstream
(San Francisco, 2014)
$55M Series A Feb-2016
Horizons Ventures, AXA Strategic Ventures, Digital Garage, AME Cloud Ventures,
Blockchain Capital, Future Perfect Ventures, Khosla Ventures, Mosaic Ventures,
7seasvc.com
ripple.com
Ripple
(San Francisco, 2012)
$55M Series B Sep-2016 Standard Chartered, SBI Holdings, SCB Digital Ventures
juzhen.io
JUZHEN
(Shanghai, 2014)
$23M Series A Sep-2016 Wanxiang Group Corporation
aligncommerce.com
Align Commerce
(San Francisco, 2014)
$13M Series A Nov-2015
KPCB, Silicon Valley Bank, Pantera Capital, Digital Currency Group, Recruit Strategic
Partners
colu.com
Colu
(Tel Aviv, 2014)
$10M Series A Jun-2016 Spark Capital, BoxGroup, Digital Currency Group, Aleph Venture Capital
digitalasset.com
Digital Asset Holdings
(New York City, 2014)
$7M Series A Jun-2016 Australian Securities Exchange
gem.co
Gem
(Venice, 2014)
$7M Series A Jan-2016
Pelion Venture Partners, KEC Ventures, Blockchain Capital, Digital Currency Group, RRE
Ventures, Tekton Ventures, Amplify
Blockchain Report – November 201616
Top investments in last one year
Company
Funding
Amount
Round
Name
Date Investors
symbiont.io
Symbiont
(New York City, 2015)
$7M Series A Jan-2016
techbureau.jp
Tech bureau Lab
(Osaka, 2015)
$6M Series A May-2016
Arara, Infoteria, OKWAVE, Nippon Technology Venture Partners, Money Partners
Group, Hiroshima Venture Capital
firstblood.io
FirstBlood
Technologies
(Boston, 2016)
$6M
Equity
Crowdfunding
Sep-2016
augur.net
Augur
(San Francisco, 2014)
$5M Series A Oct-2015
elliptic.co
Elliptic
(London, 2014)
$5M Series A Mar-2016
Paladin Capital Group, Santander InnoVentures, KRW Schindler Private Ventures,
Digital Currency Group, Octopus Ventures
stem.is
Stem Disintermedia
(Los Angeles, 2015)
$5M Seed Apr-2016
Upfront Ventures, Vayner/RSE, Three Six Zero, Ludlow Ventures, Blockchain Capital,
Third Wave Digital
bubi.cn
Bubi Network
Technology
(Beijing, 2015)
$4M Seed Aug-2016 QF Capital
ripple.com
Ripple
(San Francisco, 2012)
$4M Series A Oct-2015 Santander InnoVentures
Blockchain Report – November 201617
Funnel view of Sector
Percent of
Previous
30%
17%
16%
7
5
31
182
601
0 140 280 420 560 700
M&A & IPO
Late
Series B
Series A
Funded
Founded
Number of Companies
Blockchain Report – November 2016
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
18
Blockchain Report – November 201619
Most Active Investors in Sector
30
19
12
10 10
9 9
8 8
7
0
7
14
21
28
35
Digital Currency
Group
Blockchain
Capital
Fenbushi Capital RRE Ventures Startupbootcamp Pantera Capital Techstars Boost VC Plug and Play
Tech Center
500 Startups
TotalNumberofRounds
itBit itBit Gem itBit Fluent Network Chain Filament Shield128 Eximchain Fluent Network
Filament Gem Factom Gem OneBit Align Commerce Chainalysis Mirror
Manifold
Technology
BlockCypher
Blockchain Report – November 201620
Where are Top Investors investing
Blockchain Report – November 201621
Top Investor by Stage of Entry
Blockchain Report – November 2016
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
22
Blockchain Report – November 201623
Major Acquisitions in last one year
Date Company Acquirer Overview
Apr-2016 elevence.com
Elevence Digital Finance
(Zurich, 2015)
digitalasset.com Technology for rights/obligation determination on blockchain
Mar-2016 xapcash.com
XAPCASH Technologies
(Vancouver, 2015)
blockchaintechltd.com Blockchain based remittance company
Oct-2015 blockstack.io
Blockstack
(San Francisco, 2015)
digitalasset.com
Enterprise software stack for financial services to create blockchain 2.0 applications
quickly and easily.
Blockchain Report – November 2016
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
24
Blockchain Report – November 201625
October 2016Tracxn BlueBox : Blockchain Applications
600 companies in the sector, 181 funded, $530M invested in 2015/2016
Blockchain Report – November 201626
Top Business Models by Funding
$327M
$257M
$85M
$22M
0
70
140
210
280
350
Financial services Technology Enterprise Consumer DAO
TotalFundingAmount(inMillions)
# Cos. 191 183 151 71 5
Avg. Age May-14 Apr-14 Apr-14 Sep-14 Jul-15
Ripple Blockstream Filament FirstBlood Technologies MakerDAO
Digital Asset Holdings Bitfury Keybase Augur Chainlab
Blockchain Report – November 201627
Financial services – Business Model Description
Blockchain Report – November 201628
Financial services – Entrepreneur Activity and
Investment Trend
Blockchain Report – November 201629
Financial services – Most Funded Companies
Blockchain Report – November 201630
Technology – Business Model Description
Blockchain Report – November 201631
Technology – Entrepreneur Activity and
Investment Trend
Blockchain Report – November 201632
Technology – Most Funded Companies
Blockchain Report – November 201633
Enterprise – Business Model Description
Blockchain Report – November 201634
Enterprise – Entrepreneur Activity and
Investment Trend
Blockchain Report – November 201635
Enterprise – Most Funded Companies
Blockchain Report – November 201636
Consumer – Business Model Description
Blockchain Report – November 201637
Consumer – Entrepreneur Activity and Investment
Trend
Blockchain Report – November 201638
Consumer – Most Funded Companies
Blockchain Report – November 201639
DAO – Business Model Description
Blockchain Report – November 201640
DAO – Entrepreneur Activity and Investment
Trend
Blockchain Report – November 201641
DAO – Interesting Companies
Blockchain Report – November 2016
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
42
Blockchain Report – November 201643
Interesting Unfunded Companies
Company Overview
Business
Model
r3cev.com
R3
(2013, New York City)
Blockchain technology provider to capital markets Financial services > Trading > Capital
markets
dfintech.com
Dragonfly FinTech
(2015, Singapore)
Blockchain based remittance services Financial services > Payments > Money
Transfer
polycoin.io
Polycoin
(2014, Tel Aviv)
Blockchain identity and asset transfer solutions for banks Financial services > Risk management >
Payments
billoncash.com
Billon Cash
(2015, Warsaw)
Digital fiat currency solution provider Financial services > Payments > Digital fiat
currency
axoni.com
Axoni
(2016, New York City)
Blockchain solutions for capital markets Financial services > Trading > Capital
markets
slock.it
Slock.it
(2015, Mittweida)
Block chain based IoT smart contract solution
Enterprise > Internet Of Things
credits.vision
Credits
(2014, London)
Blockchain enabled platform
Technology > Sidechain
chainreactor.com
ChainReactor
(2016, Indianapolis)
Blockchain development platform supporting multiple chains Technology > Application development
platform
Curated list of companies by the sector analyst are defined as Interesting
Blockchain Report – November 201644
Interesting Unfunded Companies
Blockchain Report – November 201645
Interesting Unfunded Companies
Blockchain Report – November 201646
Interesting Seed Companies
Blockchain Report – November 201647
Interesting Seed Companies
Blockchain Report – November 201648
Interesting Seed Companies
Blockchain Report – November 201649
Interesting Series A Companies
Blockchain Report – November 201650
Interesting Series A Companies
Blockchain Report – November 201651
Interesting Series B Companies
Blockchain Report – November 201652
Top Funded Deadpooled Companies
Blockchain Report – November 2016
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
53
Blockchain Report – November 201654
Useful Links
Slide Title Content Platform Link
List of All Companies in readable format Companies Link
Large Upcoming Sectors Entrepreneur Activity Link
Niche Upcoming Sectors Entrepreneur Activity Link
Top investments in last one year Investment Trend Link
Top IPOs in last three years Exit Outlook - IPO, Acquisitions Link
Major Acquisitions in last one year Exit Outlook - IPO, Acquisitions Link
Financial Services – Most Funded Companies Sub Sector Understand Link
Enterprise – Most Funded companies Sub Sector Understand Link
Technology – Most Funded Companies Sub Sector Understand Link
Consumer – Most Funded Companies Sub Sector Understand Link
Top Funded Deadpooled Companies Companies Link
Blockchain Report – November 2016
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
56
Blockchain Report – November 201657
Blockchain – Company List
Financial services Technology Enterprise Consumer DAO
181 FUNDED COMPANIES AND 419 UNFUNDED COMPANIES
COVERS THE FOLLOWING SECTORS
Blockchain Report – November 201658
Financial services (1/25)
Company Overview Business Model Total Funding
Satoshi Portal
(2015, Montreal)
Online Bitcoin retailer and exchanger.
capitalDIGI
(2013, Eastbourne)
Digital currency services
Level39
Proof of Purpose
(2016, London)
Blockchain solutions for humanitarian aid transfers, micro-lending,
identity and donations.
ANX International
(2013, Hong Kong)
Blockchain based FinTech services
Love Will Inc
(2014, St. Louis)
Blockchain payments and B2B commerce solutions
Accounting $2.51M
Libra
(2014, San Francisco)
Compliance and audit solution for blockchain platforms.
Liberty City Ventures Accounting $500K
Tallysticks
(2015, London)
Blockchain invoicing solution provider
Techstars, Barclays Accelerator Accounting
BitPOS
(2013, Sydney)
Bitcoin payments solutions
Accounting
Go to BM List >> Technology
Blockchain Report – November 201659
Financial services (2/25)
Company Overview Business Model Total Funding
Balanc3
(2015, New York City)
Smart contract powered triple-entry accounting system
Accounting
Nordledger
(2015, Helsinki)
Business contract execution platform on the blockchain
Accounting
Paycer
(2015, Los Angeles)
Smart Accounts
Accounting
JACCOO
(2011, Amsterdam)
Blockchain powered B2B banking solutions over cloud
Accounting
Block Billing
(2015, London)
Billing on the Blockchain
Accounting
MONI
(2014, London)
Micro-banking service provider
Formation 8, Maxfield Capital, Digital Currency Group, Maxfield Capital Banking $1.45M
Remitt
(2015, London)
Blockchain platform to develop financial applications
Banking
Thought Machine
(2014, London)
Blockchain-based core banking engine offered through SaaS
Banking
Go to BM List >> Technology
Blockchain Report – November 201660
Financial services (3/25)
Company Overview Business Model Total Funding
Thought Machine
(2014, London)
Digital bank vault using big data and Machine learning
Banking
Secco Bank
(2015, London)
Mobile-first digital bank
Banking
The Vault Bank
(2016, Amsterdam)
Blockchain based banking service provider
Banking
Blockbond
(2015, Kristiansand)
Mobile app for banking and payments.
Banking
OneBit
(2015, Singapore)
Bitcoin based mobile payment and remittance service provider
Startupbootcamp Banking
Paycase
(2014, Toronto)
Universal banking platform that leverages blockchain technology
Crypto Capital Banking
Zerobillbank
(2014, Tel Aviv)
Private banking systems based on alternative currencies
Banking
Zariant
(2016, London)
Online platform to provide banking services.
Banking
Go to BM List >> Technology
Blockchain Report – November 201661
Financial services (4/25)
Go to BM List >> Technology
Blockchain Report – November 201662
Financial services (5/25)
Go to BM List >> Technology
Blockchain Report – November 201663
Financial services (6/25)
Go to BM List >> Technology
Blockchain Report – November 201664
Financial services (7/25)
Go to BM List >> Technology
Blockchain Report – November 201665
Financial services (8/25)
Go to BM List >> Technology
Blockchain Report – November 201666
Financial services (9/25)
Go to BM List >> Technology
Blockchain Report – November 201667
Financial services (10/25)
Go to BM List >> Technology
Blockchain Report – November 201668
Financial services (11/25)
Go to BM List >> Technology
Blockchain Report – November 201669
Financial services (12/25)
Go to BM List >> Technology
Blockchain Report – November 201670
Financial services (13/25)
Go to BM List >> Technology
Blockchain Report – November 201671
Financial services (14/25)
Go to BM List >> Technology
Blockchain Report – November 201672
Financial services (15/25)
Go to BM List >> Technology
Blockchain Report – November 201673
Financial services (16/25)
Go to BM List >> Technology
Blockchain Report – November 201674
Financial services (17/25)
Go to BM List >> Technology
Blockchain Report – November 201675
Financial services (18/25)
Go to BM List >> Technology
Blockchain Report – November 201676
Financial services (19/25)
Go to BM List >> Technology
Blockchain Report – November 201677
Financial services (20/25)
Go to BM List >> Technology
Blockchain Report – November 201678
Financial services (21/25)
Go to BM List >> Technology
Blockchain Report – November 201679
Financial services (22/25)
Go to BM List >> Technology
Blockchain Report – November 201680
Financial services (23/25)
Go to BM List >> Technology
Blockchain Report – November 201681
Financial services (24/25)
Go to BM List >> Technology
Blockchain Report – November 201682
Financial services (25/25)
Go to BM List >> Technology
Blockchain Report – November 201683
Technology (1/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201684
Technology (2/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201685
Technology (3/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201686
Technology (4/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201687
Technology (5/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201688
Technology (6/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201689
Technology (7/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201690
Technology (8/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201691
Technology (9/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201692
Technology (10/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201693
Technology (11/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201694
Technology (12/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201695
Technology (13/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201696
Technology (14/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201697
Technology (15/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201698
Technology (16/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 201699
Technology (17/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 2016100
Technology (18/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 2016101
Technology (19/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 2016102
Technology (20/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 2016103
Technology (21/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 2016104
Technology (22/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 2016105
Technology (23/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 2016106
Technology (24/24)
Financial
services
<< Go to BM List >> Enterprise
Blockchain Report – November 2016107
Enterprise (1/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016108
Enterprise (2/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016109
Enterprise (3/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016110
Enterprise (4/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016111
Enterprise (5/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016112
Enterprise (6/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016113
Enterprise (7/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016114
Enterprise (8/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016115
Enterprise (9/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016116
Enterprise (10/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016117
Enterprise (11/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016118
Enterprise (12/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016119
Enterprise (13/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016120
Enterprise (14/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016121
Enterprise (15/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016122
Enterprise (16/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016123
Enterprise (17/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016124
Enterprise (18/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016125
Enterprise (19/19)
Technology << Go to BM List >> Consumer
Blockchain Report – November 2016126
Consumer (1/9)
Enterprise << Go to BM List >> DAO
Blockchain Report – November 2016127
Consumer (2/9)
Enterprise << Go to BM List >> DAO
Blockchain Report – November 2016128
Consumer (3/9)
Enterprise << Go to BM List >> DAO
Blockchain Report – November 2016129
Consumer (4/9)
Enterprise << Go to BM List >> DAO
Blockchain Report – November 2016130
Consumer (5/9)
Enterprise << Go to BM List >> DAO
Blockchain Report – November 2016131
Consumer (6/9)
Enterprise << Go to BM List >> DAO
Blockchain Report – November 2016132
Consumer (7/9)
Enterprise << Go to BM List >> DAO
Blockchain Report – November 2016133
Consumer (8/9)
Enterprise << Go to BM List >> DAO
Blockchain Report – November 2016134
Consumer (9/9)
Enterprise << Go to BM List >> DAO
Blockchain Report – November 2016135
DAO
Consumer << Go to BM List
Blockchain Report – November 2016
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
136
Blockchain Report – November 2016137
Team
Tarun Bansal,
Lead Analyst, Fin Tech
Aman Trivedi,
Analyst, Fin Tech
Tracxn Research - Blockchain Landscape, November 2016

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Tracxn Research - Blockchain Landscape, November 2016

  • 1.
  • 2. Blockchain Report – November 2016 Tracxn World’s Largest Startup Research Platform 2
  • 3. Blockchain Report – November 20163 Contents Topic Page No. Scope of Report 04 Entrepreneur Activity 06 Investment Trend 11 Who is Investing 19 Exit Outlook - IPO, Acquisitions 23 Sub Sector Analysis 25 Interesting Companies 43 Useful Links 54 Company List 57 Team 137
  • 4. Blockchain Report – November 20164 Sector Overview Scope of Report: This report is a quantitative analysis on the funding and founding data on 600 companies that are working on the distributed ledger technology to optimize business processes for enterprises and create newer peer-to-peer markets for consumers. Blockchain, the technology underpinning Bitcoin, the cryptocurrency is an ecosystem level solution that has been seen by any as the technology possessing the potential to unlock operational efficiencies across businesses in Financial Services, Healthcare, Retail among others. Summary of Insights: • The year on year companies founded stands at 113 as of September 2016, compared to 193 for 2015, this data point suggests a market correction in terms of adoption of more realistic use-cases against the panacea sentiment propelled during peak hype levels of 2015. • The year on year Dollars invested in Blockchain companies was at $304M as of September 2016, compared to $225M in 2015 suggests a bullish investor take on the technology, however, this can also be attributed to new investors’ interest, driven by media hype. • The year on year distribution of funding rounds stands at 26/42 (seed/early) as of September 2016, as compared to 25/54 for 2015, with no late stage rounds coming up in both years, this data point suggests that: • the industry is still in nascent stage which can be alternately explained by founders experimenting with multiple use-cases, thereby increasing the potential for seed stage investments in the space • while early stage still appears to be stagnant over 2015-16, considering there are 3 months remaining in 2016, this can be attributed to a decrease in number of companies advancing to the next level, accompanied by an increase in new use-cases being added to the pipeline.
  • 5. Blockchain Report – November 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 5
  • 6. Blockchain Report – November 2016 2 4 15 57 208 194 113 0 50 100 150 200 250 2010 2011 2012 2013 2014 2015 2016 NumberofCompanies 6 YoY – Number of companies founded Ideapod Mirror Ripple PeerNova Blockstream Symbiont FirstBlood Technologies My Market Partners uTrade Bitfury BitGo Digital Asset Holdings Tech bureau Lab Onchain
  • 7. Blockchain Report – November 20167 Large Upcoming Sectors No. of Companies Founded Average Age No. of Companies Funded Business Model Total Funding Example 71 Sep-2014 14 Consumer $25M First Blood Technologies 2016, Boston 16 Sep-2014 3 Enterprise > Governance solutions $268K Democracy Earth Foundation 2012, San Francisco 14 Sep-2014 0 Technology > Blockchain Education - The Distributed Ledger 2016, Nashville 27 Aug-2014 8 Financial services > Investing $3M PeerHood 2016, San Francisco 17 Aug-2014 4 Financial services > Banking $1M MONI 2014, London 17 Jul-2014 9 Financial services > Risk management $24M Skry 2013, Mountain View 15 Jul-2014 4 Financial services > Investing > Crowdfunding $3M Waves Blockchain Tokens Platform 2016, Moscow 13 Jul-2014 3 Consumer > Social networks $4M Status 2015, Berlin
  • 8. Blockchain Report – November 20168 Niche Upcoming Sectors No. of Companies Founded Average Age No. of Companies Funded Business Model Total Funding Tracxn Picks 11 May-2015 0 Financial services > Insurance - Soramitsu 2016, Tokyo 10 Apr-2015 1 Consumer > Digital Content $2M Decent 2015, Geneva 9 Jan-2015 1 Enterprise > Record Keeping > Electronic Health Records $250K burstIQ 2015, Denver 7 Jan-2015 1 Consumer > Energy $60K The Sun Exchange 2014, Cape Town 4 Sep-2014 1 Consumer > Gaming platform $6M FirstBlood Technologies 2016, Boston 10 Aug-2014 3 Financial services > Risk management > Payments $21M BitGo 2013, San Francisco 11 Jul-2014 4 Financial services > Trade Finance $3M Fluent Network 2014, St. Louis 11 Jul-2014 3 Technology > Sidechain $77M Blockstream 2014, San Francisco
  • 9. Blockchain Report – November 20169 Niche Upcoming Sectors No. of Companies Founded Average Age No. of Companies Funded Business Model Total Funding Tracxn Picks 8 Jul-2014 1 Enterprise > Supply Chain $2M InstaSupply 2014, London 7 Apr-2014 1 Enterprise > Internet Of Things $12M Filament 2012, Reno 9 Jan-2014 3 Financial services > Accounting $3M Love Will Inc 2014, St. Louis 13 Nov-2013 7 Enterprise > Security $13M Guardtime 2007, Irvine 7 Apr-2012 3 Financial services > Payments > Loyalty & Rewards $2M Loyyal 2014, San Diego
  • 10. Blockchain Report – November 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 10
  • 11. Blockchain Report – November 201611 YoY – Number of Rounds and Total Funding Note: The funding includes debt rounds also. $8M $1M $8M $137M $225M $304M 1 3 10 60 85 72 0 18 36 54 72 90 0 70 140 210 280 350 2010 2012 2013 2014 2015 2016 NumberofRounds FundingAmount(inMillions) Funding Amount Number of Rounds
  • 12. Blockchain Report – November 201612 YoY – Number of Rounds by Stage 2 9 44 54 42 1 10 25 261 0 18 36 54 72 90 2012 2013 2014 2015 2016 NumberofRounds Seed Early Late
  • 13. Blockchain Report – November 201613 YoY – Funding by Stage $1M $8M $55M $29M $42M $80M $193M $260M $83K 0 70 140 210 280 350 2012 2013 2014 2015 2016 TotalFundingAmount(inMillions) Seed Early Late
  • 14. Blockchain Report – November 201614 Average Ticket Size – Early Stage $0.4M $1.1M $1.7M $0.8M $1.5M $12.4M $7.7M $13.7M $19.9M $28.5M 0.0 6.0 12.0 18.0 24.0 30.0 2012 2013 2014 2015 2016 FundingAmount(inMillions) Seed Series A Series B
  • 15. Blockchain Report – November 201615 Top investments in last one year Company Funding Amount Round Name Date Investors digitalasset.com Digital Asset Holdings (New York City, 2014) $60M Series A Jan-2016 ABN AMRO Bank, Accenture, Australian Securities Exchange, BNP Paribas, Broadridge Financial Solutions, Citigroup, CME Group, Deutsche, ICAP, J.P. Morgan, Santander InnoVentures, DTCC, PNC Financial Services Group, Goldman Sachs, IBM blockstream.com Blockstream (San Francisco, 2014) $55M Series A Feb-2016 Horizons Ventures, AXA Strategic Ventures, Digital Garage, AME Cloud Ventures, Blockchain Capital, Future Perfect Ventures, Khosla Ventures, Mosaic Ventures, 7seasvc.com ripple.com Ripple (San Francisco, 2012) $55M Series B Sep-2016 Standard Chartered, SBI Holdings, SCB Digital Ventures juzhen.io JUZHEN (Shanghai, 2014) $23M Series A Sep-2016 Wanxiang Group Corporation aligncommerce.com Align Commerce (San Francisco, 2014) $13M Series A Nov-2015 KPCB, Silicon Valley Bank, Pantera Capital, Digital Currency Group, Recruit Strategic Partners colu.com Colu (Tel Aviv, 2014) $10M Series A Jun-2016 Spark Capital, BoxGroup, Digital Currency Group, Aleph Venture Capital digitalasset.com Digital Asset Holdings (New York City, 2014) $7M Series A Jun-2016 Australian Securities Exchange gem.co Gem (Venice, 2014) $7M Series A Jan-2016 Pelion Venture Partners, KEC Ventures, Blockchain Capital, Digital Currency Group, RRE Ventures, Tekton Ventures, Amplify
  • 16. Blockchain Report – November 201616 Top investments in last one year Company Funding Amount Round Name Date Investors symbiont.io Symbiont (New York City, 2015) $7M Series A Jan-2016 techbureau.jp Tech bureau Lab (Osaka, 2015) $6M Series A May-2016 Arara, Infoteria, OKWAVE, Nippon Technology Venture Partners, Money Partners Group, Hiroshima Venture Capital firstblood.io FirstBlood Technologies (Boston, 2016) $6M Equity Crowdfunding Sep-2016 augur.net Augur (San Francisco, 2014) $5M Series A Oct-2015 elliptic.co Elliptic (London, 2014) $5M Series A Mar-2016 Paladin Capital Group, Santander InnoVentures, KRW Schindler Private Ventures, Digital Currency Group, Octopus Ventures stem.is Stem Disintermedia (Los Angeles, 2015) $5M Seed Apr-2016 Upfront Ventures, Vayner/RSE, Three Six Zero, Ludlow Ventures, Blockchain Capital, Third Wave Digital bubi.cn Bubi Network Technology (Beijing, 2015) $4M Seed Aug-2016 QF Capital ripple.com Ripple (San Francisco, 2012) $4M Series A Oct-2015 Santander InnoVentures
  • 17. Blockchain Report – November 201617 Funnel view of Sector Percent of Previous 30% 17% 16% 7 5 31 182 601 0 140 280 420 560 700 M&A & IPO Late Series B Series A Funded Founded Number of Companies
  • 18. Blockchain Report – November 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 18
  • 19. Blockchain Report – November 201619 Most Active Investors in Sector 30 19 12 10 10 9 9 8 8 7 0 7 14 21 28 35 Digital Currency Group Blockchain Capital Fenbushi Capital RRE Ventures Startupbootcamp Pantera Capital Techstars Boost VC Plug and Play Tech Center 500 Startups TotalNumberofRounds itBit itBit Gem itBit Fluent Network Chain Filament Shield128 Eximchain Fluent Network Filament Gem Factom Gem OneBit Align Commerce Chainalysis Mirror Manifold Technology BlockCypher
  • 20. Blockchain Report – November 201620 Where are Top Investors investing
  • 21. Blockchain Report – November 201621 Top Investor by Stage of Entry
  • 22. Blockchain Report – November 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 22
  • 23. Blockchain Report – November 201623 Major Acquisitions in last one year Date Company Acquirer Overview Apr-2016 elevence.com Elevence Digital Finance (Zurich, 2015) digitalasset.com Technology for rights/obligation determination on blockchain Mar-2016 xapcash.com XAPCASH Technologies (Vancouver, 2015) blockchaintechltd.com Blockchain based remittance company Oct-2015 blockstack.io Blockstack (San Francisco, 2015) digitalasset.com Enterprise software stack for financial services to create blockchain 2.0 applications quickly and easily.
  • 24. Blockchain Report – November 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 24
  • 25. Blockchain Report – November 201625 October 2016Tracxn BlueBox : Blockchain Applications 600 companies in the sector, 181 funded, $530M invested in 2015/2016
  • 26. Blockchain Report – November 201626 Top Business Models by Funding $327M $257M $85M $22M 0 70 140 210 280 350 Financial services Technology Enterprise Consumer DAO TotalFundingAmount(inMillions) # Cos. 191 183 151 71 5 Avg. Age May-14 Apr-14 Apr-14 Sep-14 Jul-15 Ripple Blockstream Filament FirstBlood Technologies MakerDAO Digital Asset Holdings Bitfury Keybase Augur Chainlab
  • 27. Blockchain Report – November 201627 Financial services – Business Model Description
  • 28. Blockchain Report – November 201628 Financial services – Entrepreneur Activity and Investment Trend
  • 29. Blockchain Report – November 201629 Financial services – Most Funded Companies
  • 30. Blockchain Report – November 201630 Technology – Business Model Description
  • 31. Blockchain Report – November 201631 Technology – Entrepreneur Activity and Investment Trend
  • 32. Blockchain Report – November 201632 Technology – Most Funded Companies
  • 33. Blockchain Report – November 201633 Enterprise – Business Model Description
  • 34. Blockchain Report – November 201634 Enterprise – Entrepreneur Activity and Investment Trend
  • 35. Blockchain Report – November 201635 Enterprise – Most Funded Companies
  • 36. Blockchain Report – November 201636 Consumer – Business Model Description
  • 37. Blockchain Report – November 201637 Consumer – Entrepreneur Activity and Investment Trend
  • 38. Blockchain Report – November 201638 Consumer – Most Funded Companies
  • 39. Blockchain Report – November 201639 DAO – Business Model Description
  • 40. Blockchain Report – November 201640 DAO – Entrepreneur Activity and Investment Trend
  • 41. Blockchain Report – November 201641 DAO – Interesting Companies
  • 42. Blockchain Report – November 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 42
  • 43. Blockchain Report – November 201643 Interesting Unfunded Companies Company Overview Business Model r3cev.com R3 (2013, New York City) Blockchain technology provider to capital markets Financial services > Trading > Capital markets dfintech.com Dragonfly FinTech (2015, Singapore) Blockchain based remittance services Financial services > Payments > Money Transfer polycoin.io Polycoin (2014, Tel Aviv) Blockchain identity and asset transfer solutions for banks Financial services > Risk management > Payments billoncash.com Billon Cash (2015, Warsaw) Digital fiat currency solution provider Financial services > Payments > Digital fiat currency axoni.com Axoni (2016, New York City) Blockchain solutions for capital markets Financial services > Trading > Capital markets slock.it Slock.it (2015, Mittweida) Block chain based IoT smart contract solution Enterprise > Internet Of Things credits.vision Credits (2014, London) Blockchain enabled platform Technology > Sidechain chainreactor.com ChainReactor (2016, Indianapolis) Blockchain development platform supporting multiple chains Technology > Application development platform Curated list of companies by the sector analyst are defined as Interesting
  • 44. Blockchain Report – November 201644 Interesting Unfunded Companies
  • 45. Blockchain Report – November 201645 Interesting Unfunded Companies
  • 46. Blockchain Report – November 201646 Interesting Seed Companies
  • 47. Blockchain Report – November 201647 Interesting Seed Companies
  • 48. Blockchain Report – November 201648 Interesting Seed Companies
  • 49. Blockchain Report – November 201649 Interesting Series A Companies
  • 50. Blockchain Report – November 201650 Interesting Series A Companies
  • 51. Blockchain Report – November 201651 Interesting Series B Companies
  • 52. Blockchain Report – November 201652 Top Funded Deadpooled Companies
  • 53. Blockchain Report – November 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 53
  • 54. Blockchain Report – November 201654 Useful Links Slide Title Content Platform Link List of All Companies in readable format Companies Link Large Upcoming Sectors Entrepreneur Activity Link Niche Upcoming Sectors Entrepreneur Activity Link Top investments in last one year Investment Trend Link Top IPOs in last three years Exit Outlook - IPO, Acquisitions Link Major Acquisitions in last one year Exit Outlook - IPO, Acquisitions Link Financial Services – Most Funded Companies Sub Sector Understand Link Enterprise – Most Funded companies Sub Sector Understand Link Technology – Most Funded Companies Sub Sector Understand Link Consumer – Most Funded Companies Sub Sector Understand Link Top Funded Deadpooled Companies Companies Link
  • 55.
  • 56. Blockchain Report – November 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 56
  • 57. Blockchain Report – November 201657 Blockchain – Company List Financial services Technology Enterprise Consumer DAO 181 FUNDED COMPANIES AND 419 UNFUNDED COMPANIES COVERS THE FOLLOWING SECTORS
  • 58. Blockchain Report – November 201658 Financial services (1/25) Company Overview Business Model Total Funding Satoshi Portal (2015, Montreal) Online Bitcoin retailer and exchanger. capitalDIGI (2013, Eastbourne) Digital currency services Level39 Proof of Purpose (2016, London) Blockchain solutions for humanitarian aid transfers, micro-lending, identity and donations. ANX International (2013, Hong Kong) Blockchain based FinTech services Love Will Inc (2014, St. Louis) Blockchain payments and B2B commerce solutions Accounting $2.51M Libra (2014, San Francisco) Compliance and audit solution for blockchain platforms. Liberty City Ventures Accounting $500K Tallysticks (2015, London) Blockchain invoicing solution provider Techstars, Barclays Accelerator Accounting BitPOS (2013, Sydney) Bitcoin payments solutions Accounting Go to BM List >> Technology
  • 59. Blockchain Report – November 201659 Financial services (2/25) Company Overview Business Model Total Funding Balanc3 (2015, New York City) Smart contract powered triple-entry accounting system Accounting Nordledger (2015, Helsinki) Business contract execution platform on the blockchain Accounting Paycer (2015, Los Angeles) Smart Accounts Accounting JACCOO (2011, Amsterdam) Blockchain powered B2B banking solutions over cloud Accounting Block Billing (2015, London) Billing on the Blockchain Accounting MONI (2014, London) Micro-banking service provider Formation 8, Maxfield Capital, Digital Currency Group, Maxfield Capital Banking $1.45M Remitt (2015, London) Blockchain platform to develop financial applications Banking Thought Machine (2014, London) Blockchain-based core banking engine offered through SaaS Banking Go to BM List >> Technology
  • 60. Blockchain Report – November 201660 Financial services (3/25) Company Overview Business Model Total Funding Thought Machine (2014, London) Digital bank vault using big data and Machine learning Banking Secco Bank (2015, London) Mobile-first digital bank Banking The Vault Bank (2016, Amsterdam) Blockchain based banking service provider Banking Blockbond (2015, Kristiansand) Mobile app for banking and payments. Banking OneBit (2015, Singapore) Bitcoin based mobile payment and remittance service provider Startupbootcamp Banking Paycase (2014, Toronto) Universal banking platform that leverages blockchain technology Crypto Capital Banking Zerobillbank (2014, Tel Aviv) Private banking systems based on alternative currencies Banking Zariant (2016, London) Online platform to provide banking services. Banking Go to BM List >> Technology
  • 61. Blockchain Report – November 201661 Financial services (4/25) Go to BM List >> Technology
  • 62. Blockchain Report – November 201662 Financial services (5/25) Go to BM List >> Technology
  • 63. Blockchain Report – November 201663 Financial services (6/25) Go to BM List >> Technology
  • 64. Blockchain Report – November 201664 Financial services (7/25) Go to BM List >> Technology
  • 65. Blockchain Report – November 201665 Financial services (8/25) Go to BM List >> Technology
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  • 67. Blockchain Report – November 201667 Financial services (10/25) Go to BM List >> Technology
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  • 69. Blockchain Report – November 201669 Financial services (12/25) Go to BM List >> Technology
  • 70. Blockchain Report – November 201670 Financial services (13/25) Go to BM List >> Technology
  • 71. Blockchain Report – November 201671 Financial services (14/25) Go to BM List >> Technology
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  • 91. Blockchain Report – November 201691 Technology (9/24) Financial services << Go to BM List >> Enterprise
  • 92. Blockchain Report – November 201692 Technology (10/24) Financial services << Go to BM List >> Enterprise
  • 93. Blockchain Report – November 201693 Technology (11/24) Financial services << Go to BM List >> Enterprise
  • 94. Blockchain Report – November 201694 Technology (12/24) Financial services << Go to BM List >> Enterprise
  • 95. Blockchain Report – November 201695 Technology (13/24) Financial services << Go to BM List >> Enterprise
  • 96. Blockchain Report – November 201696 Technology (14/24) Financial services << Go to BM List >> Enterprise
  • 97. Blockchain Report – November 201697 Technology (15/24) Financial services << Go to BM List >> Enterprise
  • 98. Blockchain Report – November 201698 Technology (16/24) Financial services << Go to BM List >> Enterprise
  • 99. Blockchain Report – November 201699 Technology (17/24) Financial services << Go to BM List >> Enterprise
  • 100. Blockchain Report – November 2016100 Technology (18/24) Financial services << Go to BM List >> Enterprise
  • 101. Blockchain Report – November 2016101 Technology (19/24) Financial services << Go to BM List >> Enterprise
  • 102. Blockchain Report – November 2016102 Technology (20/24) Financial services << Go to BM List >> Enterprise
  • 103. Blockchain Report – November 2016103 Technology (21/24) Financial services << Go to BM List >> Enterprise
  • 104. Blockchain Report – November 2016104 Technology (22/24) Financial services << Go to BM List >> Enterprise
  • 105. Blockchain Report – November 2016105 Technology (23/24) Financial services << Go to BM List >> Enterprise
  • 106. Blockchain Report – November 2016106 Technology (24/24) Financial services << Go to BM List >> Enterprise
  • 107. Blockchain Report – November 2016107 Enterprise (1/19) Technology << Go to BM List >> Consumer
  • 108. Blockchain Report – November 2016108 Enterprise (2/19) Technology << Go to BM List >> Consumer
  • 109. Blockchain Report – November 2016109 Enterprise (3/19) Technology << Go to BM List >> Consumer
  • 110. Blockchain Report – November 2016110 Enterprise (4/19) Technology << Go to BM List >> Consumer
  • 111. Blockchain Report – November 2016111 Enterprise (5/19) Technology << Go to BM List >> Consumer
  • 112. Blockchain Report – November 2016112 Enterprise (6/19) Technology << Go to BM List >> Consumer
  • 113. Blockchain Report – November 2016113 Enterprise (7/19) Technology << Go to BM List >> Consumer
  • 114. Blockchain Report – November 2016114 Enterprise (8/19) Technology << Go to BM List >> Consumer
  • 115. Blockchain Report – November 2016115 Enterprise (9/19) Technology << Go to BM List >> Consumer
  • 116. Blockchain Report – November 2016116 Enterprise (10/19) Technology << Go to BM List >> Consumer
  • 117. Blockchain Report – November 2016117 Enterprise (11/19) Technology << Go to BM List >> Consumer
  • 118. Blockchain Report – November 2016118 Enterprise (12/19) Technology << Go to BM List >> Consumer
  • 119. Blockchain Report – November 2016119 Enterprise (13/19) Technology << Go to BM List >> Consumer
  • 120. Blockchain Report – November 2016120 Enterprise (14/19) Technology << Go to BM List >> Consumer
  • 121. Blockchain Report – November 2016121 Enterprise (15/19) Technology << Go to BM List >> Consumer
  • 122. Blockchain Report – November 2016122 Enterprise (16/19) Technology << Go to BM List >> Consumer
  • 123. Blockchain Report – November 2016123 Enterprise (17/19) Technology << Go to BM List >> Consumer
  • 124. Blockchain Report – November 2016124 Enterprise (18/19) Technology << Go to BM List >> Consumer
  • 125. Blockchain Report – November 2016125 Enterprise (19/19) Technology << Go to BM List >> Consumer
  • 126. Blockchain Report – November 2016126 Consumer (1/9) Enterprise << Go to BM List >> DAO
  • 127. Blockchain Report – November 2016127 Consumer (2/9) Enterprise << Go to BM List >> DAO
  • 128. Blockchain Report – November 2016128 Consumer (3/9) Enterprise << Go to BM List >> DAO
  • 129. Blockchain Report – November 2016129 Consumer (4/9) Enterprise << Go to BM List >> DAO
  • 130. Blockchain Report – November 2016130 Consumer (5/9) Enterprise << Go to BM List >> DAO
  • 131. Blockchain Report – November 2016131 Consumer (6/9) Enterprise << Go to BM List >> DAO
  • 132. Blockchain Report – November 2016132 Consumer (7/9) Enterprise << Go to BM List >> DAO
  • 133. Blockchain Report – November 2016133 Consumer (8/9) Enterprise << Go to BM List >> DAO
  • 134. Blockchain Report – November 2016134 Consumer (9/9) Enterprise << Go to BM List >> DAO
  • 135. Blockchain Report – November 2016135 DAO Consumer << Go to BM List
  • 136. Blockchain Report – November 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 136
  • 137. Blockchain Report – November 2016137 Team Tarun Bansal, Lead Analyst, Fin Tech Aman Trivedi, Analyst, Fin Tech