Ethereum Emerging As Dominant Player Among European Blockchain Startups: Report

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London and Paris-based venture capital firm LeadBlock Partners says Ethereum is emerging as the number one choice among blockchain startups in Europe.

Leadblock says Ethereum, Hyperledger and Corda are the three most popular blockchain protocols in the region. All three represent over 65% of the protocols used by enterprise blockchain startups.

The report, which used data from a survey of more than 200 startups, reveals that 27% of enterprise blockchain startups and corporations in the EU that work on decentralized solutions rely on Ethereum. 20% use Hyperledger and 16% leverage Corda.

Source: LeadBlock Partners

In addition, the report shows the suitability of blockchain protocols depends on the industry. Ethereum is more suited for firms in real estate and arts and culture as tokenization of assets in these sectors offers numerous uses cases.

Meanwhile, the report says Hyperledger excels in the healthcare, food and agriculture industries while Corda stands out in the financial services industry. LeadBlock Partners note that interoperability between protocols will be crucial in the long term.

When asked why they decided to use blockchain in their operations, over 40% of the startup founders polled say the technology helps them reduce costs. Nearly 30% claim that the blockchain’s immutable feature drove them to use technology that underpins cryptocurrencies.

You can read the complete report here.

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Bitcoin and Crypto Bonds on the Horizon As Central Banks Eye Billions in Private-Sector Investment

Speaking at the 2019 annual Spring Meetings in Washington DC. hosted by the World Bank Group and the International Monetary Fund (IMF), the governors of the central banks of Afghanistan and Tunisia explained that they are each striving to issue the world’s first sovereign Bitcoin bond.

According to a report by Asia Times,

“Khalil Sediq, Governor at the Central Bank of Afghanistan, told Asia Times at the event that the country was seriously considering issuing a sovereign crypto bond that uses blockchain technology as an instrument to raise some US$5.8 billion in needed private-sector investment for the country’s critical mining, energy and agriculture sectors.”

Sediq outlined how Bitcoin could allow the government to reach international markets and overcome severe restrictions on borrowing. To create a new financial instrument, the central bank is exploring Hyperledger’s blockchain technology financial services platform. An open source, global collaborative effort for cross-industry blockchain technologies, Hyperledger could underpin new infrastructure that would enable Aghanistan to execute an enterprise-level platform.

As one of the world’s largest producers of lithium, Afghanistan has mineral reserves now valued at over $3 trillion. A Bitcoin bond could be tied to metals futures, such as lithium. If executed, the financial instrument would be the first of its kind.

Tunisian central bank governor Marouane El Abassi announced at the summit that a special division at the bank is exploring the advantages and disadvantages of a Bitcoin bond. According to the report,

“Abassi added that Bitcoin and blockchain Hyperledger technology offers central banks an efficient tool to combat money-laundering, manage remittances, fight cross-border terrorism and limit grey economies.”

Uzbekistan, the world’s fifth-largest producer of cotton, is also reportedly exploring blockchain, cryptocurrencies and the issuance of a Bitcoin bond that could be tied to the cotton futures market.

“Uzbekistan, which sent a high-level delegation to the IMF World Bank event so it could study Bitcoin and blockchain, should not be counted out in the race to issue the first sovereign Bitcoin bond, Uzbek Ambassador to the United States Javlon Vakhabov told meeting delegates.”

Speaking at the spring meeting last Wednesday, IMF chief Christine Lagarde pointedly noted that cryptocurrencies are “clearly shaking the system.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.