Funding to Block Chain ventures decline by 60% in 2019

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Funding to Block Chain ventures decline by 60% in 2019

As per data from a market intelligence firm, CB Insights,  the blockchain companies around the world have raised a total of $784 million from venture Capital Firms though 227 deals till June 2019 end.

Projecting with this pace, companies focusing on BlockChain technology may only raise $1.6 billion this year, which is around 60% lower from a record $4.1 billion raised in 2018.

The funding has witnessed sharp decline despite increased interest in the blockchain technology from large companies such as Facebook in the form of “Libra”. CB Insights report highlight that Maturing startups are gaining less support, while new startups are doing better.

Recently, USA President Donald Trump and Congress members have criticized Facebook’s Libra plans in particular and other BlockChain Based cryptocurrencies, in general, citing concerns that technology may be used by Terrorists or Anti-Social elements.

Analysts believe that funding decline in this year is due to softening of euphoria witnessed last year as Investors are now tracking last years Investments.

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