Some of the largest companies in the world are investing in blockchain, the accounting technology made popular by bitcoin. But they’re doing so largely with the help of a group of nimble startups. Perhaps no one knows more about how this nascent but growing space operates than New York venture capital firm mState, the only venture capital firm that exclusively invests in enterprise blockchain startups.
Today, for the first time, the firm backed by Comcast Ventures, Boldstart Ventures and others released the results of its global study on the state of startups building blockchain products for enterprises.
The list, which is in alphabetical order and not ranked, includes some well-known names like U.S.-based Coinbase and Ripple, which have expanded from their retail origins to include services for institutional investors and enterprise users, as well as some lesser known names like Argentina’s RSK, which offers smart contracts using the bitcoin blockchain, and U.K. company Nivaura, which automates investment banking services using ethereum and other platforms.
Among the most interesting observations made in the report, revealed exclusively to Forbes , is a shift away from financial applications, a change in the way those startups are raising capital and a level of maturity that mState CEO Rob Bailey says bodes well for adoption among the startups’ larger clients.
“Last year we had industry temporarily dominated by hype, insane funding rounds, unproven technology and prolific scammers,” Bailey told Forbes . “This year we have the opposite—an industry with more measured expectations, more proven products and founders building amazing things.”