2 years ago
A associated study by 2 starring fiscal institutions, KPMG and HSBC, revealed that implicit a 4th of the 6472 startups operating successful the Asia Pacific portion person their halfway businesses successful crypto-related activities.
Among these firms, 5 appeared connected a apical 100 startups database with the imaginable to go unicorns — a backstage startup institution valued astatine implicit $1 billion.
The database included China-based crypto startups, Conflux web and, Memsonics, Singapore-based DeFi level Stader Labs, Hong Kong blockchain gaming level Catheon Gaming and Taiwan’s Maicoin crypto exchange.
According to the report, the crypto space still has the imaginable to nutrient ascendant unicorn companies.
“Blockchain existent property and decentralized autonomous enactment (DAO) were besides contiguous among the apical 20 subsector, reflecting the existent absorption crossed the portion connected integer assets, the metaverse and web 3.0.”
Some existent unicorn companies successful the crypto abstraction see Ripples, OpenSea, Dapper Labs, Chainalysis, and others.
The study focused connected “emerging giants” successful 12 antithetic markets, which included China, Hong Kong, India, Singapore, Indonesia, Australia, and Japan, among others.
Per a connection from Darren Yong, the caput of tech, media, and telecoms (TMT) for KPMG Asia-Pacific, these blockchain companies person the imaginable to alteration the region’s fiscal landscape.
“We judge that blockchain companies and crypto assets much broadly volition rebound astatine immoderate point. There volition beryllium a resurgence of applications, if these unicorns are delivering worth they would look arsenic the adjacent Amazon.”
The emergence of these firms could besides considerably change however outgo is made internationally successful the aboriginal by making transactions cheaper, faster, and much efficient.
11) The motivation of the communicative is: payments are hard.
There are galore reasons for this, but they each ellipse astir the aforesaid halfway problem:
What, exactly, does it mean to nonstop idiosyncratic money? What does it mean for that wealth to "settle"?
— SBF (@SBF_FTX) July 16, 2022
A caller Twitter thread by FTX Sam Bankman-Fried identified the accidental successful payments and remittances disposable to crypto firms. According to SBF, payments are hard, and blockchain solutions could assistance lick these challenges.
Meanwhile, the HSBC-KPMG study identified startups successful different niches similar electrical cars, quantum computing, internet-of-things, robotics, and artificial intelligence.
Also, startups from China predominate the apical 100 list.
The station KPMG, HSBC study identifies crypto startups with unicorn imaginable successful Asia appeared archetypal connected CryptoSlate.
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