ICO’s are out, the DeFi is the new Trend in the crypto market is

The CB Insights Blockchain report provides a review of the past year, what happened in the block chain sector and provides insight into where the industry is developed. ICO’s are long since out, and the market of the decentralized Finance is the new growth trend.

According to the report from the 19. March increased the assets in a decentralized financial platforms since January of 2019 to over 200 % to its peak in February 2020 – from under $ 300 million to over $ 1.2 billion. At the same time, ICOs collected in the year 2019 95% less capital than in the year 2018, the total funding declined, according to the report, of more than $ 7.8 billion to only $ 371 million.

Among the winners in the DeFi-space, the Maker Protocol, which offers a Stablecoin and the DeFi-Leihprotokoll Compound. In March 2020, the Maker Protocol was equipped with more than 280 million dollars in assets; Compound followed with $ 70 million. Although DeFi is still a very experimental and volatile area, have taken some serious steps to protect their users.

According to the report, a growing number of crypto-custody services, including the Ledger, Anchorage, and Knox, both now insurance policies for the protection of the stocks of their customers. Coinbase and Gemini assure your customers now for over $ 200 million against criminal activities. And towards the end of the year, the tax began to gain services for crypto-currencies in importance – all signs that DeFi is here to stay. ZenLedger, Taxbit and Verady’s Ledgible platform raised according to the report, at least 8.4 million dollars for the early-stage financing.

The report by CB Insights also notes that the United States and China to dominate for 2015, the financing of the block chain projects and almost 70% of this years funds offered make. The financial focus has shifted also in 2019 further to the East. 30 % of the financing came in 2019 from the US, compared to 41 % in 2017, as China took 22 % of the financing in the year 2019, compared to only 10 % in 2017.

Among the notable transactions in the year 2019 294 million dollars for Ripple, 100 million dollars for the IP-tokenization project Proxicoin and 1.2 billion dollars for Figure Technologies, the home Equity and other mortgages marketed products in Tokens. In the report, CB Insights says that Blockchain-have provided investors with consistently fewer resources for Blockchain solutions company.

2019 was the same development. The company could collect in 2019, only 434 million dollars from venture capital firms, compared with 2.4 billion dollars, which have been applied to decentralized crypto-products and infrastructure projects. CB Insights highlighted the payment service head of Celo and the Mining Manager, Bison Trails as examples of big winners in the development of cryptographic infrastructure and protocols. Throughout the world, CB Insights reported a growing interest of the national Central banks of the development of their own digital currencies. China leads the field and awaits the launch of its digital currency in the year 2020, while France, Turkey and the Bahamas own pilot programs, or are about to start.

Other Nations are in various stages of research and development in the field of digital currencies, the Central banks. The United States has clearly indicated less urgency than its main competitor, China.

In a meeting of the house Committee in December 2019 US Treasury Secretary Steven Mnuchin said:

… [The Chairman of the Federal Reserve] Powell and I have discussed this in detail – we both agreed that we will see in the near future, in the next five years, no need for the output of a digital currency by the Fed.

Featured Image: Immersion Imagery | Shutterstock