Kriptokoin.com - London and Paris based venture capital firm LeadBlock Partners said Ethereum has emerged as the number one choice among blockchain initiatives in Europe.
Leadblock; Ethereum also noted that Hyperledger and Corda are the most popular blockchain protocol in the region. All three represent more than 65% of the protocols used by corporate blockchain initiatives.
Using the data from a survey involving more than 200 initiatives, the report reveals that 27% of corporate blockchain initiatives and companies working on decentralized solutions in the EU are connected to Ethereum. 20% use Hyperledger and 16% use Corda.
Blockchain usage varies from industry to industry
The report also shows that the suitability of blockchain protocols depends on the sectors. Ethereum is more suitable for companies in the real estate, art and culture sectors; because the tokenization of assets in these sectors offers many use cases.
Hyperledger excels in the health, food and agriculture industries, while Corda stands out in the financial services industry. LeadBlock Partners states that interoperability between protocols will be crucial in the long term.
When asked why they decided to use blockchain in their operations, over 40% of the founders of the ventures said technology helps them cut costs. Approximately 30% claim that the non-replaceable feature of blockchain pushes them to use technology that supports cryptocurrencies.
You can read the full report here.