Silicon Valley has long been the de facto location for budding start-ups to gain a foothold here and grow into multimillion-dollar companies. However, it is probably not the capital of blockchain technology. As of July 2017, 62 of the 105 US companies with a value of over 1 billion dollars are located in California. To put this into perspective: New York has the second highest value with only 15 companies.
With the power of decentralization, however, blockchain-based start-ups prove that they can also find success outside Silicon Valley. Cities all over the world have begun to compete for the title “Capital of the Blockchain” and establish themselves as a stronghold for young crypto-currency companies. The cities are trying to do this through loose regulations, strong financial incentives or other factors. Although no city has yet achieved pioneering status, some regions are beginning to develop as hot spots for this new innovation.