Tezos, a blockchain that counts in the French crypto ecosystem

The 205 French Web3 companies evaluated by Deloitte

According to the panorama Web3 from Deloitte, Tezos is ranked in 2nd position in terms ofusage in the French blockchain infrastructure providersbehind the queen Ethereum.

The French Web3 ecosystem is clearly dynamic. This explains the interest of the multinationals of this industry for the Franceincluding Circle, which wants to establish itself there in 2023.

But what exactly does this ecosystem look like? Deloitte and the Village by Crédit Agricole were interested in it, realizing a panorama of French Web3 startups. This one deals with the analysis of 205 young shoots, blockchain infrastructure or financial services providers – and others as well.

French Web3 covers the entire value chain

The study, published earlier this month, notes that “the proposed solutions cover the entire Web3 value chain”. The finance occupies an important place, as it does in other countries. This has been and remains one of the most promising areas for crypto technologies.

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Deloitte notes that the ecosystem “of French Web3 startups offering solutions related to financial services is very rich”. This is not the only French specialty, however.

The infrastructures are another. Startups in this segment design, for example, essential products to exchange digital assets between different blockchains, create a digital identity, or enable the tokenization of assets.

Tezos 2nd behind Ethereum, but ahead of Bitcoin

Web3 startups operate different blockchain networks. The majority (80%) rely on the use of a single blockchain. The remaining 20% (mostly finance) have chosen to use multi-chain.

Ethereum, the reference for decentralized applications and programmable contracts, has the lion’s share in France. Of the twenty or so blockchains in use, Ethereum concerns 31% of Web3 projects. A 13%However, Tezos is not just a figurehead and is in second place.

The Entertainment (sports, gaming and art) constitutes a third pole within the French Web3 ecosystem. And if its first startups were born in 2010, the peak of creation is between 2020 and 2022, the study notes.

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36% of NSPs, 44% of which are less than 3 years old

In terms of targets, they stand out from the more traditional software sector in France, which is very focused on companies (B2B). In fact, the latter are almost all aimed at individuals (83%) versus 17% for B2B.

The separation between the two worlds is not totally watertight, however. 64% of startups target individuals directly and 36% do so via companies (B2B2C). Moreover, 30% of them target both individuals and companies.

This dual positioning concerns more specifically the investment solutions On or with digital assets. To be clear, these are essentially crypto finance startups.

A promising crypto ecosystem

Among financial services providers, 36% are registered as PSAN with the AMF. Another interesting data, among the PSAN :

About one [entreprise] out of two (44%) were created less than 3 years ago. This demonstrates the dynamics of the ecosystem that has been initiated over the last few years,” comment the authors.

Finance is not the only outlet for French players. Deloitte points out that the ecosystem “is in full development”. Thus, fundraising is focused on early-stage startups.

The France consequently has a “pool of startups representing a significant development potential”. 23% of the startups in the study have
have raised Seed capital. 51% have not raised any funds.

More generally, the country “is at the forefront of Web3 in Europe and has assets to play with on a global level. These include incubators, investors and a talent pool.

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