What Is America’s Blockchain Capital?

Blockchain is here to stay and many countries around the world are wholly embracing it.

We recently wrote about Europe’s blockchain capital – Berlin. But does the US have its very own blockchain capital? And if so, what is it?

Before we can answer that, let’s quickly review America’s industrial history. The country is large – very large – and culture, industry, and regulations vary greatly from state to state. For example, steel, coal and automotive production was concentrated in the region between New York all the way through the Midwest – in places such as Michigan, Ohio and Pennsylvania, due to their proximity to rivers, lakes and canals for better transport – although this is no longer the case today. There’s also places like Texas where more than half of oil production in the US occurs. And then you have places like New York City, which has become the financial services epicenter due to Wall Street. Then you have places like Silicon Valley, which is just outside San Francisco, which became what it is today due to the concentration of tech giants like Facebook and Google – which are there because of its legacy tech companies like Intel and Apple. 

But what is the equivalent for blockchain technology? And what exactly is the concentrating factor for blockchain tech startups and projects anyway?

At the present moment in the United States, there does not seem to be one. The US seems to have truly adopted the decentralized nature of blockchain technology. Given that many blockchain projects and startups do not even rely on on-site employees, they’re found just about anywhere in the US. In addition, blockchain technology encompasses a wide range of industries – from financial services to security. Let’s take a look at some of the biggest and upcoming projects in blockchain today.

SALT Lending – Denver, Colorado

SALT Lending (SALT stands for Secured Automated Lending Technology) provides fiat loans to individuals using crypto and digital assets as collateral. Borrowers can receive cash loans by leveraging cryptocurrencies such as Bitcoin and Ether.

Ripple – San Francisco, California

Ripple Labs, the company behind the Ripple cryptocurrency is a payment protocol and exchange network, enabling the transfer of money worldwide. Ripple is one of the largest cryptocurrencies in the market with a market cap of over $11 billion.

Gemini – New York, NY

Gemini is a digital asset exchange allowing users to buy, sell and trade crypto instantly. It also offers trading and custody support for DeFi tokens.

Block.one – Arlington, VA

Block.one, the company behind another massive cryptocurrency, EOS, is a blockchain software company. The company claims its motive for its geographical location is that the region contains security, engineering and IT talent, as well as a proximity to policymakers in Washington D.C. 

Blockstack – New York, NY

Blockstack is an open-source network for building decentralized apps and smart contracts, all on its own blockchain. The company claims to already have 500 teams building on its blockchain.As you can see, this is only a tiny sample of the massive blockchain scene in the US. As we are still in the nascent to early period of the blockchain technology age, regulations do not matter as much – for now. But as more and more companies enter the blockchain space and adopt this revolutionary technology, it may become more prominent.This is why states are taking measures now to adopt blockchain-friendly legislation in order to usher in innovation. The most blockchain-friendly states, in regards to regulation, at the present moment are: 

Wyoming, Colorado, Ohio, Texas and California.

So, to conclude, what is America’s blockchain capital? Well, the answer is, there isn’t one. The biggest defining factor of blockchain technology lies in its championing of decentralization and this isn’t more apparent anywhere than it is in the US.