More than 300 organisations incorporated in the Dutch blockchain ecosystem in 2019
The Netherlands’ blockchain ecosystem currently includes more than 300 companies. The market is becoming more professional, producing more standard solutions. Companies are also applying blockchain technology more widely in their organisations or chains. This is revealed in the third update of ‘Blockchain Ecosystem Netherlands’ which Berenschot publishes today.
The market is experiencing growing professionalism as many blockchain application suppliers and buyers continue maturing the technology. Suppliers and knowledge institutions offer more standard solutions, and are putting more focus on blockchain information security and governance. VNG Realisatie recently published a guide to practical blockchain applications for governments, for example. Customers are putting pilot projects into practice, broadening the application of blockchain in their organisations or chains.
4% new entrants and 5% no longer active in the blockchain ecosystem
The number of new startups is about the same as the number of those withdrawing. The new startups use blockchain in a variety of areas – for example making production chains in the food and construction sectors transparent, or bringing labour market supply and demand closer together – thereby taking over the role of trusted third parties. As in any emerging market, some parties also withdraw. Several startups have opted not to make blockchain development a priority, or have terminated their business activities. Some organisations have been taken over, or have joined forces with others. The fact that more legal and organisational advisors have joined shows that the market is maturing, says Nanning de Jong, Managing Consultant at Berenschot and one of the researchers. “That’s because established organisations wanting to put blockchain into practice as customers insist that it meets (legal) preconditions.”
Chain cooperation and coalitions required
New startups and technical developers are also facilitated in enhancing each other’s ideas, creating a culture where parties learn from each other. This has brought about a significant increase in the number of meetings, hackathons, training sessions and courses relating to blockchain. “Blockchain’s greatest value lies in exchanging information and automating chains, where no single central, powerful party is in charge,” notes De Jong. “This requires coalitions of parties to be formed, transforming their chain together and thus organising it more effectively.”
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Nanning de Jong