Page 51 - Geektime Blockchain Report
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Until October 2017
Even though this is is impressive growth it’s important to remember that many blockchain startups closed before 2016 One can assume the reason
for their failure was that they had
run out of funds and couldn’t raise more money from VC VC investors VC VC investors were much more reluctant to invest in in this unknown and complex field and ICOs were still not a a known means of obtaining financing without relying on
VC investors’ money We expect that in the near future we will see lower closing rates for blockchain startups because ICOs will buy them enough funding to hold on
until they are financially established 2016 2015
$290M $386M
Global market 

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