- Coinbase, the largest crypto exchange in the U.S., has released a new report on blockchain adoption by corporations that found that 52% of Fortune 100 companies have pursued crypto, blockchain or web3 initiatives since the start of 2020.
“These companies, among the world’s largest and best known, are innovating and investing in these technologies because they know that our century-old global financial system needs updating, that blockchain can be a foundational solution, and that not keeping pace will mean losing ground in this global economy to competitors around the world, among other reasons,” Coinbase said.
The biggest barrier to investment and adoption is a lack of clear rules for crypto, blockchain and web3, and the lack of regulatory clarity is also being perceived as a challenge to U.S. leadership of the global financial system. In just the last six years, the U.S. went from contributing 40% of the development of web3 to 29% currently, which Coinbase said has forfeited “influence over global financial and data standards to other countries,” and has pushed innovation and investment overseas.