Crypto. Blockchain. Web3. These are some of the hottest trends in tech.
Many longtime techies and entrepreneurs are jumping in, betting on what could be the next frontier of computing. Others are more cautious, particularly given the volatility of digital currencies and nascent technologies.
The Seattle region is home to several budding startups developing a bevy of products and services related to crypto (digital currency), blockchain (distributed ledger-based technology), and Web3 (blockchain-based internet). Scroll down to read more about them.
Some say Seattle — given its clout as a tech hub and cloud computing mecca — should play a bigger role in this burgeoning new world, especially compared to cities such as Miami where lawmakers are trying to make easier for crypto and blockchain startups to succeed.
“Seattle entrepreneurs start significantly disadvantaged to those operating in other jurisdictions,” said Jesse Proudman, a veteran Seattle entrepreneur and CEO of Makara, which recently announced its acquisition to Betterment.
There is some regulatory progress. Last year Washington state launched a new Center for FinTech Information to gather licensing guidelines and regulations in one place.
Simon Yu, co-founder and CEO at Seattle crypto startup StormX, pointed to a lack of investor interest. He said local venture capitalists tend to prefer software companies and avoid high-risk bets.
“I’ve seen many good founders leaving this city because they couldn’t get the funding they needed,” Yu said.
Crypto, the most visible example of blockchain tech, remains a wild west, highlighted again over the past few weeks as prices of Bitcoin and other digital currencies have fallen. But industry watchers are hopeful.
“This is just the beginning,” said Arry Yu, chair of the Washington Technology Industry Association’s Cascadia Blockchain Council. “There’s so much opportunity to reimagine a decentralized, accessible, and empowering future for all people that’s built with a global-first mindset and digitally-native technology,”
Read on to learn about startups based in the Seattle area building crypto, blockchain, and Web3-related technologies.
Founded: 2017
What they do: Blockchain system for building decentralized apps
CEO: Robert Mao
Founded: 2014
What they do: Crypto trading platform
CEO: Richie Lai
Founded: 2014
What they do: Crypto cash network
CEO: Neil Bergquist
Founded: 2014
What they do: Hybrid blockchain platform for enterprise
CEO: Onno Pelser
Founded: 2018
What they do: Crypto mining
CEO: Nick Hansen
Founded: 2021
What they do: Blockchain-based gaming
CEO: Rahul Sood
Founded: 2020
What they do: Cryptocurrency used by Native American Tribes
CEO: Jeff Johnson
Founded: 2017
What they do: Carbon removal marketplace
CEO: Paul Gambill
Founded: 2021
What they do: Digital asset investment fund
CEO: Daryl Hok
Founded: 2018
What they do: Asset-tokenization-as-a-service
CEO: Kory Hoang
Founded: 2018
What they do: Crypto hedge fund
CEO: Sadie Raney
Founded: 2014
What they do: Crypto cashback app
CEO: Simon Yu
Founded: 2018
What they do: Digital assets tax and accounting
CEO: Austin Woodward
Founded: 2021
What they do: Digital securities management platform
CEO: Dominic Niolu
Founded: 2018
What they do: B2B payment network
CEO: Alex Fowler
Founded: 2017
What they do: Blockchain-based energy exchange
Founded: 2021
What they do: Crypto tax and accounting
CEO: Patrick Larsen