Disrupting Industries With Blockchain: The Industry, Venture Capital Funding, and Regional Distribution of Blockchain Ventures

Proceedings of the 51st Annual Hawaii International Conference on System Sciences (HICSS), January 2018. Forthcoming

10 Pages Posted: 20 Oct 2016 Last revised: 2 Oct 2017

See all articles by Maximilian Friedlmaier

Maximilian Friedlmaier

Technische Universität München (TUM) - TUM School of Management

Andranik Tumasjan

Technische Universität München - TUM School of Management

Isabell M. Welpe

Technische Universität München (TUM) - School of Management

Date Written: September 22, 2017

Abstract

The blockchain (i.e., a decentralized and encrypted digital ledger) has the potential to disrupt many traditional business models. This study investigates the emerging blockchain business-application landscape by analyzing its industry, venture capital funding, and regional distribution. By matching four venture databases on blockchain-based startups we create a unique database to analyze the technology from a diffusion of innovation theoretical perspective. First, our results show that blockchain startups are present across all industry segments and are most prominently represented in the Finance & Insurance and Information & Communication industries. A fine-grained analysis of financial services yields increasing novel applications in existing service offerings. Second, we find that mainly Finance & Insurance and Information & Communication industries are funded by venture capital, but that blockchain startups are present across all industries. Third, our regional distribution analysis of the emerging ventures identifies two leading geographical blockchain clusters (i.e., the US and UK).

Keywords: blockchain, business models, bitcoin, disruptive innovation

Suggested Citation

Friedlmaier, Maximilian and Tumasjan, Andranik and Welpe, Isabell M., Disrupting Industries With Blockchain: The Industry, Venture Capital Funding, and Regional Distribution of Blockchain Ventures (September 22, 2017). Proceedings of the 51st Annual Hawaii International Conference on System Sciences (HICSS), January 2018. Forthcoming. Available at SSRN: https://ssrn.com/abstract=2854756 or http://dx.doi.org/10.2139/ssrn.2854756

Maximilian Friedlmaier (Contact Author)

Technische Universität München (TUM) - TUM School of Management ( email )

Arcisstraße 21
Munich, Bavaria 80333
Germany

Andranik Tumasjan

Technische Universität München - TUM School of Management ( email )

Leopoldstr. 139
Munich, D-80804
Germany

HOME PAGE: http://www.strategie.wi.tum.de/index.php?id=20

Isabell M. Welpe

Technische Universität München (TUM) - School of Management ( email )

Leopoldstrasse 139
Munich, 80804
Germany
++49/89/289-24800 (Phone)
++49/89/289-24805 (Fax)

HOME PAGE: http://www.strategie.wi.tum.de

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