For a long time, Silicon Valley was 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 total 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. But with the power of decentralisation, block-chain-based start-ups are proving that they can find success outside of Silicon Valley. Cities all over the world have begun to compete for the title of “Blockchain Capital” and have established themselves as a stronghold for young cryptocurrency companies. Cities are trying to do this through loose regulations, strong financial incentives or other factors. Although no city has yet achieved pioneer status, some regions are beginning to develop as hot spots for this new innovation.