Chinese companies accounted for over one fifth of global blockchain venture capital deals last year, as the centre of transactions undergoes a gradual shift from west to east.
The Blockchain Report 2020 released by CB Insights Research indicates that in 2015 around 51% of blockchain VC deals were with US-based companies, as compared to just 2% for Chinese firms.
2019 has already seen a sharp shift in global shares of blockchain VC deals however, with the US share dropping to 30% of VC deals as compared to 41% in 2017, and China’s rising to 22% as compared to 10% in 2017.
President Xi Jinping recently called for the incorporation of blockchain technology into efforts to contain the COVID-19 outbreak, while the recent release of security standards by the Chinese central bank has been interpreted by members of industry as a sign of its commitment to the sector.
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