Blockchain Association of Ukraine releases an overview of Ukrainian blockchain market

Blockchain Association of Ukraine has released an overview of the blockchain industry in Ukraine. This was announced by the founder of Kuna Exchange and the president of the association Mike Chobanyan.

The overview includes data from 58 market companies and their opinions on a number of issues. According to Chobanyan, the number of these industry players is much larger. For various reasons, “at least almost plus the same number of companies” are not represented in the report.

Most of the surveyed companies were founded in 2016 and later:

  • 2014 and earlier — 8%;
  • 2015 — 12%;
  • 2016 — 20%;
  • 2017 — 32%;
  • 2018 — 12%.

Among the industries, the companies’ representatives of which have adopted blockchain technology are the following: software development (38%), finance, investment and trading (38%), as well as for cryptocurrencies (32%) (some companies have several founders from different industries).

78% of respondents are focused on Ukrainian and global markets, 16% are focused only on foreign countries. However, a quarter of companies have attracted investments.

Forklog emphasizes that according to a survey, 56% of companies estimate the level of business security in Ukraine as “normal”, 30% as “bad”, 10% as “devastating” (1 out of 5) and 4% as “good”.

“Nevertheless, 76% of market players are confident that new Ukrainian companies are more likely to be launched in other jurisdictions, 14% believe that new companies will not disappear from the Ukrainian market, another 10% believe that new projects in Ukraine will no longer be launched, and existing ones will move abroad,” Forklog published.