Inventory of the world’s 15 most valuable blockchain companies, how many do you know?

When investors and consumers encounter the term “blockchain”, for most of them, the first thing they think of is Bitcoin . Although Bitcoin and blockchain are inextricably linked, the latter is more diverse than simple currencies, even though it forms the backbone of what Bitcoin provides, namely anonymity and transaction security.

In simple terms, blockchain is a distributed ledger, traditionally called a ledger. Any party using this ledger for transactions can access it and make changes, which results in multiple copies for multiple users, which is a concept that improves transaction integrity.

The rise of Bitcoin and related cryptocurrencies has stimulated a corresponding increase in the popularity of blockchain technology companies, and many people believe that the industry is worth billions of dollars in the near term. For example, the 2019 research report of MarketsandMarkets predicts that from 2020 to 2025, the global blockchain market will grow at an astonishing 67.3% compound annual growth rate (CAGR). The report estimates that by the end of 2020, the value of this market will reach US$3 billion and grow to US$39.7 billion by the end of 2025. The research firm also believes that although small and medium-sized enterprises (SMEs) will be the backbone of this growth, the largest share of the dollar cake will be made up of traditional financial institutions that rely on blockchain.

Forbes also adopted CAGR data and market size values ​​shared by MarketsandMarkets. The research company predicts that the compound annual growth rate of the global blockchain market from 2019 to 2027 will be 56.1%, and the industry’s value is expected to reach US$69 billion by the end of 2027.

PricewaterhouseCoopers, commonly known as PricewaterhouseCoopers, is one of the largest accounting firms in the world. In a report at the end of 2020, PricewaterhouseCoopers believes that by 2030, blockchain technology can increase the global gross domestic product (GDP) astonishingly Of 1.76 trillion U.S. dollars. The company also stated in its report that most of this increase will be due to the company’s use of the technology to avoid counterfeit products and fraudulent transactions. The industry is called the “origin” by the company, and by 2030, it will increase the global GDP by 903 billion US dollars.

Method of inventory

We use multiple factors when determining the value of a company. For this list, since some companies are not publicly traded, we will use their revenue as the main determinant of their size. Although the list is diverse, it mainly includes companies that mainly focus on using the blockchain sector to provide products to their customers, or financial companies that add cryptocurrencies to their portfolios, or most of their business products are centered on providing products including Blockchain technology solutions. Otherwise, large technology giants including Microsoft and Amazon also have their own blockchain departments, but since blockchain is not their main business, they are excluded from the list.

The most valuable blockchain company in the world

15. Blockstream (private)

Revenue: Estimated at $7.8 million.

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Blockstream is a Canadian company founded in 2014. The company also provides blockchain solutions for the storage and transmission of digital assets, mainly Bitcoin. Like other small blockchain companies, Blockstream also keeps its financial details confidential because it does not trade publicly and is therefore not obliged to share the details publicly.

However, according to data aggregator Growjo, the company’s annual revenue is $7.6 million, making it one of the smallest companies currently.

As big companies like Square, Tesla, Apple, and Google embrace cryptocurrency, blockchain and cryptocurrency companies such as Blockstream have also begun to grow.

14. Intellectsoft (proprietary)

Income: Estimated at $11.43 per year

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Intellectsoft is a software solution development company founded in 2007. Its target customers are businesses and companies, with five offices around the world, one of which is in New York and the other in Miami.

Intellectsoft’s blockchain department is called Intellectsoft Blockchain Lab, and it has established partnerships with major companies such as the London Stock Exchange, the World Bank, Ernst & Young, and Nestlé.

According to Dun & Bradstreet’s annual revenue model, Intellectsoft’s annual revenue is $11.43 million.

13. Deqode (formerly Techracers)

Revenue: Estimated at US$19 million per year

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Deqode, formerly known as Techracers, was founded in 2012 and has gained fame for its comprehensive development of blockchain. The company was one of the few companies that brought the benefits of blockchain to all aspects of the way businesses and individuals transacted with each other. Some of these aspects include wallets, contract audits, exchanges, and private blockchains.

According to data aggregator Growjo, Deqode’s annual revenue is $19 million.

12. Steem (STEEM-USD)

Revenue: Estimated at US$24 million per year

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Steem is a blockchain company founded in 2016 and launched its first service called Genesis Block. Since then, it has provided services to three types of users. They are developers, entrepreneurs and social users. It also provides community and development support programs.

According to the data aggregation platform Growjo, Steem currently estimates annual revenue of 24 million U.S. dollars.

11. ConsenSys (proprietary)

Revenue: USD 30 million in 2020

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A small but emerging player in the blockchain field is ConsenSys, which was founded in 2014 to provide cryptocurrency wallets and blockchain solutions. Unlike other similar companies that frequently disclose income, ConsenSys, a private company, remains relatively silent on such details.

However, the company does need to provide these details to investors when it seeks to raise additional funds, and it indirectly disclosed its revenue in a publicity in April, which outlined its plan to double revenue by the end of this year. 60 million US dollars. This means that ConsenSys will have a revenue of $30 million in 2020, which is relatively modest compared to other companies.

10. HIVE Blockchain Technologies Ltd.

Revenue: $33 million in the last three quarters of 2019

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Hive Blockchain Technologies Ltd. is a cryptocurrency miner based in Vancouver, Canada. It also claims to use only renewable energy to mine Bitcoin and Ethereum . Its mining facilities are located in Canada, Ireland, and Sweden, and allow its shareholders to access a portfolio of two cryptocurrencies.

According to the detailed information listed on its website, the company plans to install 133,120 mining machines and achieve a hash rate of 13.3EH/s. The latest financial statements submitted by Hive to Canadian regulators show that from April 2020 to December 2020, the company’s revenue was 33 billion U.S. dollars, with an annual growth rate of 9 billion U.S. dollars.

9. Marathon Digital Holdings, Inc.

Revenue: 38 million in the first half of 2021

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Marathon Digital Holdings, Inc. (NASDAQ: MARA) started to upgrade its mining portfolio in the first quarter of last year and is a relatively new entrant in the Bitcoin mining space. Throughout 2020, Marathon Digital Holdings, Inc. (NASDAQ: MARA) purchased more than 100,000 Bitcoin miners and raised funds through public and private placements several times during the year. Marathon Digital Holdings, Inc. (NASDAQ: MARA) announced earlier this year that it has successfully installed 133,120 mining machines, enabling it to significantly expand its scope of operations.

According to its latest Form-10Q filed with the US Securities and Exchange Commission, Marathon Digital Holdings, Inc. (NASDAQ: MARA) in the first half of this year had revenue of 38 million U.S. dollars, achieving an astonishing annual growth rate of 37.5 million. Dollar.

8. Argo Blockchain plc

Revenue: USD 43 million in the first half of 2021

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Argo Blockchain is a company headquartered in London, England, founded in 2017 after the cryptocurrency boom. The company’s sole goal is to ensure that mining becomes a legal operation.

Argo’s business is mainly located in North America. The company has more than 21,000 mining machines used in the United States and Canada. It also filed an F1 form with the U.S. Securities and Exchange Commission (SEC) for a public listing through an initial public offering (IPO). Argo hopes to raise $75 million through its IPO, and the time of its submission of documents coincides with the continued surge in the price of Bitcoin to new heights.

Argo’s revenue in the first half of this year was as high as 43 million U.S. dollars, almost twice the revenue for the entire 12 months of 2020.

7. Binance (BNB-USD)

Revenue: Estimated at US$179 million per year

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Binance is one of the largest cryptocurrency exchanges in the world. It was founded by Zhao Changpeng and He Yi in 2017 and is facing controversy in the United States for suspected money laundering and tax crimes. It operates an independent exchange called Binance.US in the United States, which has been registered with the United States Financial Crime Agency.

The company reports that there are an average of 2 billion transactions per day on its network, and it provides a decentralized cryptocurrency wallet and community-driven blockchain.

According to data aggregation company Growjo, Binance’s annual revenue is approximately $179 million.

As big companies like Square, Tesla, Apple, and Google embrace cryptocurrency, blockchain and cryptocurrency platforms like Binance have begun to grow.

6. AP Møller – Mærsk A / S

Revenue: Estimated at $665 million

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AP Møller – Mærsk A/S: or Maersk for short, it is the world’s largest shipping company. Maersk has incorporated blockchain technology into its TradeLens platform, enabling its users to exchange information in a safe and transparent manner.

Maersk listed the revenue of its TradeLens platform under the Maersk management product line, which had a revenue of $665 million in the first half of this year.

5. VMware, Inc.

Revenue: Estimated $741 million

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VMware Inc is an American cloud computing company founded in California 28 years ago. Its main focus is virtualization technology, and now it has also entered the blockchain field.

VMware offers VMware blockchain, a decentralized network that allows the company’s customers to use it for bidding in industries such as financial services, supply chain, and healthcare.

VMware Blockchain has been used by Broadridge Financial Solutions for the repurchase market and has also been used as a ledger by the Australian Securities Exchange.

According to documents submitted by VMware to the US Securities and Exchange Commission (SEC), in the quarter ended April, VMware earned $741 million in revenue through subscriptions and a software-as-a-service (SaaS) model, which may include VMware Blockchain.

4. Bitfury Group (private)

Revenue: $500 million in 2018

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Bitfury Group Ltd. is an innovative blockchain company operating outside of Amsterdam, the Netherlands. The company provides pre-built Bitcoin blockchain software solutions that enable the company to securely record and verify its transactions. It also provides customized hardware for auditing the Bitcoin blockchain in exchange for new tokens. The company helped the Georgian government issue 300,000 land deeds on the blockchain to ensure that they would not be compromised.

According to Forbes, Bitfury generated $500 million in revenue in 2018.

3. Coinbase Global, Inc.

Revenue: USD 4 billion in the first half of 2021

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Coinbase Global Inc, or Coinbase for short, was established in 2012 and is one of the most famous cryptocurrency exchanges in the United States. After acquiring Tagomi in March, it also became the country’s largest cryptocurrency exchange.

Coinbase provides products for retail and institutional investors. For the retail camp, it allows them to trade cryptocurrencies, cryptocurrency-backed assets, and wallets that allow customers to access apps. For institutional investors, it provides a trading platform and experts to handle cryptocurrencies. It also provides stable tokens backed by U.S. dollars, which allows users to trade this cryptocurrency faster than U.S. dollars. In addition, Coinbase provides its own debit card Visa card for cryptocurrency transactions and merchant payment services.

According to its financial disclosures, according to its Form-10Q disclosed to the US Securities and Exchange Commission, Coinbase’s revenue in the first half of this year was US$4 billion.

2. International Business Machines Corporation

Revenue: USD 3 billion in the first half of 2021

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International Business Machines Corporation, or IBM, is one of the oldest technology companies in the United States on par with the chip giant Intel. However, unlike Intel, which mainly provides hardware, IBM has a diversified business to provide a series of services including a transaction processing platform based on blockchain technology.

IBM listed its blockchain-based platform revenue in its financial statements under the heading “Transaction Processing Platform,” which earned $3 billion in revenue from the industry in the first half of this year. Although there have been rumors that the company failed to achieve the internal goals of the blockchain department, it still achieved this revenue.

1. Square, Inc.

Revenue: US$6.2 billion in the first half of 2021

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Square Inc. is a financial payment and service company founded in 2010 by Twitter co-founder Mr. Jack Dorsey and billionaire James McKelvey. Square’s main business line was at the beginning of its establishment, and by the end of the second quarter of this year, the company has begun to generate considerable revenue from Bitcoin.

In its 10-Q form for the second quarter of 2021, Square revealed that 64% of its total revenue comes from bitcoin market prices, active bitcoin customers, and growth in bitcoin demand. By the end of June 2021, Square had received up to $6.2 billion in revenue through Bitcoin. After the company announced $1.1 billion in Bitcoin revenue in the first half of 2020, the annual growth rate was 428%.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/inventory-of-the-worlds-15-most-valuable-blockchain-companies-how-many-do-you-know/
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