Disrupting industries with blockchain: The industry, venture capital funding, and regional distribution of blockchain ventures

Maximilian Friedlmaier, Andranik Tumasjan, Isabell M. Welpe

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

55 Scopus citations

Abstract

The blockchain (i.e., a decentralized and encrypted digital ledger) has the potential to disrupt many traditional business models. This study investigates the emerging blockchain business-application landscape by analyzing its industry, venture capital funding, and regional distribution. By matching four venture databases on blockchain-based startups we create a unique database to analyze the technology from a diffusion of innovation theoretical perspective. First, our results show that blockchain startups are present across all industry segments and are most prominently represented in the Finance & Insurance and Information & Communication industries. A fine-grained analysis of financial services yields increasing novel applications in existing service offerings. Second, we find that mainly Finance & Insurance and Information & Communication industries are funded by venture capital, but that blockchain startups are present across all industries. Third, our regional distribution analysis of the emerging ventures identifies two leading geographical blockchain clusters (i.e., the US and UK).

Original languageEnglish
Title of host publicationProceedings of the 51st Annual Hawaii International Conference on System Sciences, HICSS 2018
EditorsTung X. Bui
PublisherIEEE Computer Society
Pages3517-3526
Number of pages10
ISBN (Electronic)9780998133119
StatePublished - 2018
Event51st Annual Hawaii International Conference on System Sciences, HICSS 2018 - Big Island, United States
Duration: 2 Jan 20186 Jan 2018

Publication series

NameProceedings of the Annual Hawaii International Conference on System Sciences
Volume2018-January
ISSN (Print)1530-1605

Conference

Conference51st Annual Hawaii International Conference on System Sciences, HICSS 2018
Country/TerritoryUnited States
CityBig Island
Period2/01/186/01/18

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