Blockchain’s Economic Impact in CT (video)

An explosion of financial and digital services are being built on blockchain networks and cryptocurrencies. This has helped increase economic activity, employment, and tax revenues — especially in Connecticut.

A new report from Oxford Economics shows that in 2021, Connecticut had more than $330 million in GDP as a result of blockchain infrastructure.

That year, there were also 18-hundred jobs supported by the industry — if you combine direct, indirect, and induced impacts.

This led to a state and local tax contribution of around $22 million dollars, and a federal tax contribution of around $51 million.

The study also shows that blockchain technologies were a boon to the wider US economy. You can review the entire report here.