04/12/2025.- Blockchain technology in Spain is moving towards maturity: 46% of blockchain companies consider it to be in a stage of consolidation, according to the Blockchain Spain 2024 Survey, conducted by Alastria in collaboration with the Universidad Complutense de Madrid and Indaga. This figure reflects an increasingly solid ecosystem, where initial expectations are being transformed into real, sustainable use cases adapted to market needs. This study continues the work of the Innovation and Use of Blockchain 2022 Study, providing an updated view of the ecosystem, its challenges, and opportunities, and delivering key insights into the sector.
Key findings include:
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Business diversity: The blockchain ecosystem in Spain is highly heterogeneous, with companies of different sizes, lines of activity, and revenue volumes. 69% are small, 17% medium, and 14% large, including some with over 1,000 employees.
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Business volume: Annual turnover varies widely: 42% of companies report less than €1 million, medium-sized companies typically between €5–10 million, and large companies exceed €50 million.
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Lines of activity: For half of the companies, blockchain is their main or primary line of activity, especially in small companies, while in medium and large companies it is usually residual.
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Sources of investment: Own funds are predominant (64%), followed by national public funding (15%), European funding (6%), and private capital (15%). Small companies rely more on private capital and have less access to European funds.
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Main obstacles: Regulation (30%), suitability of use cases (21%), lack of trust (14%), and absence of clear value propositions (14%) are the key barriers to blockchain development in Spain.
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Convergence with AI: The report also explores how blockchain and artificial intelligence complement each other within companies’ and sectors’ digitalization strategies.
The study was carried out with the collaboration of Disruptive, Startup Valencia Hub Blockchain, Blockchain Málaga, the National Federation of Digitization and Blockchain, and Digital Catalonia Alliance. It serves as a key resource for researchers, public and private sector stakeholders, and companies seeking to strengthen the blockchain ecosystem in Spain.
📥 You can download the full study here to access all details and data from the report.
Image by Gerd Altmann from Pixabay