Research commissioned on behalf of London Fintech Week has projected that, by the year 2020, ICOs will carry a collective market value of between $30bn and $40bn if they continue to exhibit the same levels of activity currently shown.
According to some analysts, however, that figure may be an underestimate as some anticipate further significant growth of the sector. To gauge the strength of the ICO phenomenon, in 2017 total worldwide fintech investment is thought to have amounted to $30billion.
2018 – Year of the ICO
Over $9bn of the figure cited can be attributed to funds raised by ICOs between January and May of 2018 alone, which compares with just over $6.1bn for the whole of 2017.
According to the same study, since March 2016 there have been 861 ICO projects which have raised $16bn between them, of which almost 60% can be attributed to funds raised by ICOs in 2018 alone.
Commenting on the findings and its wider implications, Luis Carranza, founder of London Fintech Week stated: “We are witnessing the next form of fintech evolve, and it’s not going anywhere anytime soon. Regulation in some legal domains is now adapting to this new fintech phenomenon, bringing ICOs into a more recognisable framework.”
Fintech Week’s London conference itself is due to begin on July 6th with over 500 delegates and 5000+ participants expected to attend. Event organisers have decided to dedicate an entire day of its calendar to the crypto/blockchain phenomenon.