China-U.S. Blockchain competition intensifying

Story originally published at Asia Times

The Chinese are catching up to the Americans in the area of blockchain-related investments, according to a report from New York-based research firm CB Insights.

The researchers found that China accounted for 22% of blockchain investments in 2019, compared to 31% for the US. This represents a significant improvement for China when compared to 2015, when it had a meager 2% while the US was getting 51% of total funding, Cointelegraph reported.

Headlined by the trade dispute of 2019, competition between the US and China has intensified in recent years. That’s unsurprising considering they’re the two largest economies in the world. At best, however, the findings of this CB Insights report only suggest that US-China competition is intensifying in the blockchain space as well. It doesn’t give a clear picture of which country is ahead in blockchain development.

In addition, given that there is a slew of conflicting blockchain investment reports out there, it’s difficult to say for sure just what proportion of global blockchain investment goes to either country. For instance, according to CB Insights, 2019 saw a global investment volume of about $2.8 billion, down from $4.2 billion in 2018.

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