The study conducted by the Cambridge Center of Alternative Finance (CCAF) indicates that individual firms created over seventy percent of Live blockchains. The research also indicated that the blockchain hype that started after the 2017 Bitcoin bulls had ended as well. Now blockchain companies are moving towards more realistic avenues for adoption.
Live blockchains: Who owns them?
The CCAF talked to over one hundred and sixty companies. The company researched into slightly less than seventy (67) live blockchain networks. Among those around forty-seven networks were created by individual firms. Consortiums and other conglomerates created over twenty percent of these companies. Meanwhile, governments created the remaining networks.
Why do they exist?
While looking into their purpose, CCAF found that over forty percent of these companies were involved in financial services. Meanwhile, use-cases, including supply chain tracking, certification, trading, and payments.
Regardless, almost all the companies polled said that they were planning on increasing spendings (78%) for these projects. Only four percent (4%) stated they were going to cut expenses. This is excellent news for the blockchain ecosystem.
Low conglomerate involvement: Is it a good sign or a bad sign for Live Blockchains?
However, most of the live blockchains networks were hosted by individual companies rather than conglomerates. This means that many large-scale companies are still reluctant in adopting decentralized ledger technologies (DLTs). All is not set in stone as the report read that consortium-led networks may be underrepresented as many of those networks are still under development.
Regardless, these opinions were overshadowed by the fact that the number of new blockchains released is decreasing. There were fifteen new networks released in the last quarter of 2018 while only five networks were launched in Q1 of 2019.