What are the most common industries Blockchain is revolutionizing?
In the first half of 2019, Blockchain-based token issuers amassed an unbelievable $3.39 billion through the issuance and sale of crypto tokens, according to InWara’s Blockchain and crypto report, H1 2019. The most common amongst the token issuing mechanisms? Despite the nay-sayers, it was ICOs, followed by IEOs, the new sensation that has gripped the space.
Ever since the first Initial Coin Offering, with Mastercoin launching way back in 2013, the token offering has aimed to disrupt conventional industries using blockchain-based applications.
The rhetoric stands, 6 years on.
Blockchain and crypto report: H1 2019
The top five industry sectors during H1 2019 by number of token offerings will tell you which industries are most prone to disruption. The industry with the largest number of token offerings is Trading and Investing with a whopping 67 projects.
Now, this industry spans peer-to-peer crypto trading platforms, security trading platforms, among other investment platforms. While this industry wasn’t conventionally part of the pre-blockchain era, it became essential to create investment, and off-late has taken great leaps with ancillary elements like wallet services, portfolio rationalization applications and so on springing value adds.
On the heels of Trading and Investing sector is Financial Services with 47 projects. Financial services was the industry Blockchain sought to revamp. The interesting insight, perhaps, is that with over 1200 coin offerings in this space in the last two years, do we still need more?
Blockchain-infrastructure projects have come in third numbering to 34, while Cryptocurrency-based projects (think the likes of DASH) come in fourth with 29 offerings. These have been consistently in the top 5 sectors over the past 2 years, and there is positivity around adoption (with Walmart, IBM, Microsoft, and Amazon all announcing forays into Blockchain) which will make these sectors continue to exist and prosper, however, ease of use will be critical to be a major player in these sectors.
Bringing up the rear end of the oft-disrupted sectors are Energy & Media & Entertainment. Many of the Energy-related offerings tend to be in the renewable space offering IoT linked solutions while those in the Media space are blockchain counterparts of centralized alternatives. These sectors have seen investor interest, however, the majority of the sector remains in the negative RoI from ICO launch price.