ICOs COULD REACH $40BILLION BY 2020 REVEALS LONDON FINTECH WEEK

ICOs COULD REACH $40BILLION BY 2020 REVEALS LONDON FINTECH WEEK
03.07.2018 08:20 am

ICOs COULD REACH $40BILLION BY 2020 REVEALS LONDON FINTECH WEEK

Infrastructure

Research compiled by London Fintech Week 2018 has revealed that if present trends continue, the year 2020 could see an ICO ecosystem of $30bn-$40bn value of tokens issued with around 2,000 token projects. To put this into context, traditional fintech investment in 2017 globally totalled circa $30billion.

This is against a backdrop of an ever-growing number of ICOs being launched in 2018, following a surge in popularity in the new form of fundraising. ICOs have seen over 50% growth in value between January-May 2018 at $9.6billion compared to the whole of last year at $6.1billion.

In the last 12 months (May 2017-May 2018), 60% of ICO activity took place in the first five months 2018.

Since March 2016, there have been 861 ICO projects with a total value of $16billion*, 55% of which took place in the first five months of 2018 alone.

Business models that are seeing the highest surge in ICO activity include money & commerce at 31.5% (such as finance, payments and trading exchange), system architecture at 28.7% (communication, data storage and AI), content at 25.3% (games, AR & VR, social media and advertising) and process at 14.5% (such as healthcare, gambling and supply chain).

Commenting on the news, founder of London Fintech Week, Luis Carranza, said: “We are very excited by the news that ICOs could reach $40billion in the next two years. We are witnessing the next form of fintech evolve, and it’s not going anywhere anytime soon. Regulation in some legal domains is now adapting to this new fintech phenomenon, bringing ICOs into a more recognisable framework.”

 

Related News

SDK.finance Commits Two Open Source Projects to GitHub

SDK.finance, a core payment platform wrapped in +300 APIs, has committed two open source projects to GitHub, the world’s largest repository... Read more »

Mastercard Brings STEM Education Program to Major League Baseball Youth Academies

Girls4Tech™ comes to Washington Nationals Youth Academy and DREAM Charter School in New York with curriculum that has reached 50,000+ girls 

Mastercard recently... Read more »

Commercial Bank of Dubai and Network International Sign Acquiring Porcessing Deal

Commercial Bank of Dubai (CBD) and Network International, the leading payment solutions provider in the Middle East and Africa, recently signed an agreement to provide Network... Read more »

SIA Signs Financing Contract to Acquire First Data Business

SIA, a European hi-tech firm leader in the payment services and infrastructures sector, has today signed a financing contract to support the acquisition of... Read more »

INSTANTOR RELEASES “CONSUMER FINANCE TODAY”

Today ... Read more »

Exscudo becomes a game-changer in personal finances

Exscudo becomes a game-changer: exchange-wallet integration makes personal finances accessible on-the-go and safe. 

Widely famous fin-tech project Exscudo launched its... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App