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Coronavirus Made Enterprises Cut Investments In Cryptocurrency

Tracy CHEN

Summary: According to a reported compiled by KPMG International and HFS Research, investment in blockchain fell by 63% due to the pandemic. Blockchain funding was found to be the hardest hit by the COVID-19 lockdown, with a weighted average investment of $18 mln sliding to $6.5 mln. Roughly 40% of executives indicated they had moved to ...

According to a reported compiled by KPMG International and HFS Research, investment in blockchain fell by 63% due to the pandemic. Blockchain funding was found to be the hardest hit by the COVID-19 lockdown, with a weighted average investment of $18 mln sliding to $6.5 mln.

Roughly 40% of executives indicated they had moved to entirely cease investment into emerging technology initiatives, however some still believed the combined use of emerging technologies would produce greater returns than investing in a single technology in isolation.

Tracy Chen