Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Blockchain Coalition Report: The State of Web3 in the U.S. – State by State Analysis
Report | Aug 4, 2023
The USBC, in collaboration with Moonbeam Exchange, has released a report titled "The State of Web3 - Economic Activity Analysis Across the U.S." This report explores the current Web3 landscape within each state, highlighting investment, startup activity, innovation ecosystems, and academic research.
Web3 represents a transformative shift towards a decentralized, user-centric, and inclusive internet. It envisions a future where transactions and interactions occur directly between peers, eliminating the need for intermediaries. Associated with blockchain and cryptocurrency, Web3 is attracting attention from various stakeholders, including developers, entrepreneurs, regulators, investors, and more.
Founded in June 2021, the USBC is the only organization with a multi-state focused approach. It seeks consistent policies at the state level through alignment on public policy and legislative priorities, building relationships with regulatory bodies, and seeking new partnerships to grow the sector across the country.
See: Incubella Publishes Research on the 2022 Canadian Web3 Landscape
Key Findings
- Web3 is no longer a nascent industry; it has a significant impact on the economy and workforce.
- 276 of Fortune 1000 companies are focusing on Web3 R&D.
- Since 2008, the Web3 industry has created over 200,000 jobs and received over $107 billion in capital investments.
- The U.S. is a hub of blockchain innovation, with more than 5,700 Web3 related startups launched since 2007.
- Federal government investment in blockchain is steadily increasing.
National Takeaways
- Enterprise applications of Web3 are gaining traction in sectors like finance, technology, retail, media, and healthcare.
- The Web3 industry has created 30 unicorns and 257 exits since 2008.
- Regulatory clarity and support correlate with increased investment.
- Government is a growing adopter and funder of Web3 R&D.
Read: Canadian Government Publishes Report with 16 Recommendations: Calls for a National Blockchain Strategy to Support Adoption and Industry Growth
State-Level Insights
- California, New York, Florida, and Texas are home to 61% of all startups in the industry.
- Smaller states like Texas, Georgia, Delaware, Nevada, Wyoming, New Jersey, and Utah are making significant impacts.
- Notable single-industry players include Tennessee (healthcare), Nevada (gaming), and Maryland (Government).
Access the full 107 page PDF report --> here
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