Report: Chinese companies account for 22% of blockchain project financing transactions in 2019

CB Insights' 2020 Blockchain Report reviews the past year of blockchain and provides insights into the direction of the industry. In 2019, DeFi replaced ICO as the main crypto power, and custody, tax and lending services continued to enhance its products. More and more governments are beginning to pay attention to central bank digital currencies, and the development of blockchain companies lags behind other decentralized projects.

Since January 2019, the assets locked by the DeFi platform have increased by more than 200% to its peak in February 2020, from less than 300 million US dollars to more than 1.2 billion US dollars. At the same time, the report shows that the amount of ICO financing in 2019 decreased by 95% compared to 2018, and the total financing amount plummeted from more than $ 7.8 billion to $ 371 million.

The report also states that U.S. and Chinese companies have dominated the financing of blockchain projects since 2015, accounting for nearly 70% of all financing in the past years. But in 2019, the focus of financing continues to shift to the East. In 2019, 30% of financing transactions came from the United States, down from 41% in 2017; China accounted for 22% of financing transactions in 2019, compared with 10% in 2017. Notable financing transactions in 2019 include: Ripple received $ 294 million; IP tokenization project Proxicoin received $ 100 million; and Figure Technologies received $ 1.2 billion to tokenize home equity and other mortgage products.