Topic: The largest companies use blockchain technology (Read 454 times)

Blockchain might become a new standard for every existing companies. Aside from Bitcoin it is the technology that is hard to ignore and every company should take advantage of it. Its one of the invention of the century, and because of its unlimited application it will make companies more efficient especially in taking care of their data.

Blockchain holds a great promise of banking and financial technology innovation, that's why more and more companies gravitate towards the production of blockchain related technolgy and features. With the rate it's moving, blockchain would easily be adopted by the whole world and may actually be integrated to more than just regular money related businesses. Blockchain will truly rule this planet, or at least would pave the way for a better form of techbology that will then be destined to rule the world. Hopefully thohgh we're still alive to witness this greatness.

Deloitte has surveyed nearly 1,500 senior executives and practitioners from major companies in 14 countries, including Canada, the United Kingdom, the United States, Singapore, Israel, China and Germany. In its third annual survey, the company found that large organizations increasingly prefer to use technology instead of seeing it as "great potential."

The graph is completely eloquent about the results of this study:


Ultimately, blockchain technology must achieve mass acceptance because it has compelling benefits for businesses, and if companies fail to use it, they will lose a competitive advantage. Interestingly, the percentage of people who consider blockchain to be an overpriced technology has also increased compared to previous results.

This just happened and in the future it's gonna happen more, modernly, blockchain technology is the latest technology that's been used in wide companies like that of medical sector, agricultural sector and many others. The list are simply short and doesn't or can't contain the total list where blockchain technology had been implemented.

A good one, but I think there is difference between making use of Bitcoin and making use of the Blockchain; Blockchain is a technology that powers Bitcoin, while Bitcoin itself is the currency or asset that makes use of the Blockchain technology.

These are totally different, and most of these companies that you have mentioned are making use of the Blockchain don’t make use of the same Blockchain that Bitcoin runs on, some of them have developed their own Blockchain technology for themselves and are marketing it to other companies as well. But even if they make use of the Bitcoin Blockchain I don’t think that will add or remove anything. It can only have impact on Bitcoin if they invest in it, just like PayPal and Microstrategy has done.

Great article. Blockchain technology makes the companies that use it do the job with better performance, transparent and safe.

We are witnessing great transformations because it is the change of a new era that encourages the development of better technologies.

We feel privileged because we have been supporting blockchain technology since its inception.
To know where we are going we must know the past of how we started and how we are going.

There are several interesting documentaries on YouTube of the inception of bitcoin and everything that has happened so far alongside the defenders of the technology.

This is great development. This shows how diverse the Blockchain Technology can be used to help make life easier and the world a better place. This also shows that blockchain technology was created only for bitcoin. Bitcoin is part of the technology but not all.
One particular thing I learnt from this article is that it showed us how that the Blockchain Technology can be applied in almost any industry to things easier from the financial industry to the telecommunications industry to the transportation industry even in the technology space

Blockchain technology is not Bitcoin but is the first to use Bitcoin...
These large corporate companies use blockchain technology to simplify the performance of their companies. their success in utilizing blockchain technology will definitely be followed by companies from other countries. blockchain technology is increasingly being adopted, the more Bitcoin is known.

This is a good development. The only thing is that the vast majority (or even all) of these companies use a private blockchain and therefore contribute nothing at all to the value creation of the public blockchains. This is partly for regulatory reasons, but also because they want to keep control. If they do, they often only store a snapshot of the private blockchain as a hash in a public one like Ethereum, as a bitstamp, so to speak.

I think its not matter in the event that Tesla bought btc that they are embracing blockchain innovation,But they can be coordination blockchain innovation within the close future for their transactions but that's still distant from operational. Well, blockchain may be a great innovation to embrace and educate see its potential so they embrace it as before long as they can.For me in spite of the fact that, little companies ought to have blockchain coordinates in their framework since blockchain can offer assistance to expand the network.

They state that they have adopted cryptocurrencies,but the users can't withdraw or send them to other wallets,so this isn't real adoption.It's a pseudo-adoption. this is going to be a game-changing option. What is good is that this is an open-source technology and that is why there is a growing number of adopters from time to time. Soon the list can be growing longer. And we might even be governments .and always wanting to create a better version of their previous versions. Having the ability to use a system that would continuously be top tier is something that .

I think soon it is going to be added maybe they just announce it but not yet implemented actually that people could already, like can you use bitcoin to buy tesla already right now.

These companies are great and hopefully, we are going to see a lot of companies adopt cryptocurrency as well or in bitcoin, which will surely go to push the market price of bitcoin up to 100k$ or even more.

I want to see giant companies accepting bitcoin on their own platform in the future but I still think that we are still in a long process for that maybe until it becomes suitable for spending.

Science is developing each and every sector to improve our daily lives. There are many technologies we are using for being developed ourselves. Blockchain technology is one of them which is the most important thing now and the whole system can be changed through it. It is possible to make cashless society by using blockchain technology. Blockchain Technology will lead the future world and that's the reason to come the world biggest companies in this technology. Nonetheless, they are making profit too using that technology.

Blockchain technology is admired by all the organization and governments although they hate cryptocurrencies because of its security and decentralisation form of trust.The list of companies is growing daily that make use of blockchain technology in their system to store online transaction in their ledger in most secure format.Some of the companies that I would like to add are given below.

1) Barclays : U.K.’s second-largest bank is Barclays and one of the companies with blockchain technology. In reality, they are using blockchain technology for streamlining fund transfers and KYC (Know-Your-Customer) processes.

2)Visa cards : In 2016, they introduced a blockchain platform that would deal with business-to-business payment services.

3) Unilever : Unilever is also on the companies using blockchain in supply chain list. In reality, Unilever is currently using tech to manage its tea industry. With the help of technology, they will track all of their transactions in the supply chain.

The list is very vast and will keep on growing with more adoption as new technology has overtaken the convential digital methods.

Hi there Leviathan.007, thank you for sharing this summary from the very informative article of Forbes. I never thought that Microsoft is included in the list. As far a I remember Gates has a negative view about bitcoin which later change his stance to neutral. But one of the companies that I have a laugh about is Binance. It is very obvious that they use bitcoins due to the nature of their company.

In our view, we still have years ahead for businesses and governments to establish a real blockchain-based transformation. The main reason for this is that blockchain is a technology that will renew traditional business models not in an instant, but in a specific process, and by adapting in every industry over time. Blockchain has the potential to create new structures for our economic and social systems. The adaptation process will be gradual and slow, not all at once, and the acceleration of this speed will be determined by technological and institutional changes.

The blockchain technology has in no doubt being the best part of technological innovation. With the likes of Boeing deploying blockchain to its services and utilising the features in it shows that the tech has come to stay. I remember other tech giants eclining transactions that related to blockchain earlier in 2016  and now it has no bout become the best part of their operations. other large companies should also consider deploying the tech to enhance services and operations.

It would only be normal for them to use Blockchain Technology because they have this kind of big system that they needed to be secure and using Blockchain Technology helps them achieve that. It is also something that this Big Companies does not boast because they want to keep it in development and always wanting to create a better version of their previous versions. Having the ability to use a system that would continuously be top tier is something that this companies do to stay at the top.

Here are something interesting related to large companies using blockchain technology:

The American investment bank JP Morgan has 34 open positions for blockchain work, published on its website. Several blockchain engineer roles have focused on integrating both JPM Coin and Liink (formerly known as the blockchain-based interbank information network and now numbering over 400 other participating banks) into JPMorgan's payment architecture.

JP Morgan engineers have developed the blockchain protocol Quorum, an anonymous version of Ethereum aimed at the banking sector. JP Morgan is building its JPM Coin and Liink system from Quorum, which has now been handed over to the New York-based Ethereum hub Consensys.

This is the bank's website for open positions:

https://jpmc.fa.oraclecloud.com/hcmUI/CandidateExperience/en/sites/CX_1001/requisitions?keyword=blockchain

TESLA has indeed adopted bitcoin but not blockchain technology. Because Bitcoin and blockchain are different things. For example, Microsoft has adopted blockchain technology, but the CEO himself disagrees and conflicts with bitcoin. Even though some companies are adopting blockchain it is not necessarily that they will also adopt bitcoin and vice versa. They just use twknologi ledger and develop their own platform with various innovations added.

Blockchain technology is unconditionally recognized as very promising and revolutionary by almost all states and their governments. Even the Chinese government, which is not very good at cryptocurrency, is in fact now the leader in granting patents from blockchain technology adoption. Therefore, one should not be surprised that this technology will also be introduced by large business structures all over the world.

In all the listed companies above, i'm yet to see a Tesla or an Elon Musk, though Musk isn't a company. But then, it's understandable why these companies uses the blockchain technology in data storage and protection amongst other uses and that is due to the decentralized nature of the blockchain technology which means data stored on the blockchain can't be hacked! Am i right to say that?! Well, the potentials is almost zero so.
Its good to have all this statistics published by Forbes most of all as, it sends positive notes on not just the authentic nature of blockchain but also, preach the bitcoin revolution and legitimacy.

there's news today regarding Curv (a crypto-security firm) that will be acquired by Paypal.
the deal was less than $200M.
according to the news, the deal is part of PayPal’s push into digital tokens.

Source:
https://www.prnewswire.com/news-releases/paypal-to-acquire-curv-301242347.html
https://www.cnbc.com/2021/03/08/paypal-to-acquire-crypto-security-company-curv.html

I feel like the list is a bit off. Blockchain companies probably mean anything related to digital currencies and cryptocurrencies, even if they don't run or publish their own blockchain/private chain, etc. PayPal for example is moving on the trading market, without touching any blockchain at all (at least for now).

It depends on what kind of database they're running from. A blockchain is just a form of database, in theory, they can just deploy their own database and set it to read-only after someone publishes new data without touching "blockchain" or other jargon. I do know that some business believes using this technology will help them since it removes the cost for database management (since other people can run a node and manage it on their own).

Blockchain is a new concept in technology. The usage of this technology varies depending on the field of application. With blockchain, our data is in safe hands and it cannot be changed after validation. It can give an advantage for people and the companies that apply this technology. So we should not be surprised if we find companies that use blockchain.

Of course they do this, because not using blockchain technology now is a mistake.

Paypal is adopting blockchain technology?This sounds like a joke to me.
They state that they have adopted cryptocurrencies,but the users can't withdraw or send them to other wallets,so this isn't real adoption.It's a pseudo-adoption.The user just "buys" numbers on a screen.
Anyway,it's great that big companies on the list are adoption blockchain technology,but it's important to mention that some of them aren't adopting the Bitcoin Core blockchain.They are just creating their own blockchains.

I think for the next 10 years the list will be improved tremendously since those largest companies on the list are now gaining much popularity because of their involvement in the crypto industry. Nowadays we see a lot of them convert their reserve funds to bitcoin and the others are taking some steps to get their hand and might also want to invest in it in their own way. Nevertheless, it's a good initiative for the crypto industry since we are still in the process of making Bitcoin one of the currencies of the world.

Just because Tesla bought btc doesn't mean that they are adopting blockchain technology, yes they might be integrating blockchain technology in the near future for their transactions but that is still far from operational. Well, blockchain is a good technology to adopt and institutions see its potential so they adopt it as soon as they can. To me though, small companies should have blockchain integrated in their system because blockchain can help them grow.

I am sure that every year, more and more business organizations are getting into the blockchain technology making sure that they are adopting the benefits and advantages of DLT to their operations and these organizations are fully understanding that this is going to be a game-changing option. What is good is that this is an open-source technology and that is why there is a growing number of adopters from time to time. Soon the list can be growing longer. And we might even be governments to be using DLT to make their services more attuned to the needs of the people they governed, and yes this can be utilized in elections as well, but this can be taking time as most politicians are not into full transparency.

Tesla investing in Bitcoin does not mean it uses the blockchain technology in its operation. Those are two different bananas.


I took a quick research on the internet to find out whether or not Tesla's operation actually involves the use of the blockchain technology. And, yes, it does.^[1]

The Forbes article linked in the OP was published just less than a week ago. Tesla's purported use of the blockchain technology started almost a year ago. Accordingly, "Tesla has been confirmed to be a partner in a new project to use blockchain technology to help with logistics in importing products for Gigafactory Shanghai." Furthermore, "COSCO confirmed that Tesla used the new blockchain application to import auto parts used in its Gigafactory Shanghai, where it produces Model 3 vehicles for the Chinese market."^[Ibid.]

The writers of the Forbes article must have missed something.

[1] https://electrek.co/2020/04/07/tesla-blockchain-technology-gigafactory-shanghai-logistics/

Any blockchains/ public ledgers are developed by those companies will be centralized ones. It help them to manage their company operations better and interact better with other companies or customers. It is good and is what blockchain technology will change the world.

However, the centralization contains big risks and those companies totally control ledgers they create for their companies. They can be enforced to change by law regulations.

Welcome Big Tech companies to the blockchain revolution but don't put your capital or store all your capital on their ledgers in the future. Be your own bank by choosing and using bitcoin public ledger and non-custodial wallets.

Yes, it is good because they should. There are a lot of better opportunities in blockchain technology and cryptocurrencies and it is a must to invest or to engage with.

As we are experiencing digital and technological development, we also need to adopt new technologies or new things that are currently existing in the market or in the economy.

I know that this year, there will be more companies or big businesses who will engage in this kind of progress.

We are seeing a lot of positive things with blockchain technology these past few years, and I know that more good things will come.

It has been 7 years since I learned about bitcoin and blockchains . TBH it is unexpectedly awesome of how big name companies embrace the technology with open arms. BlockChain is really thriving with bitcoin leading the way.

May be the list for this article was made before great steps from Tesla towards Bitcoin or Blockchain. And the more important - Tesla's strategy was announced not long ago about the accepting BTC as the means of payment, but nothing about their using blockchain technologies in their activity. May be I mixed something.

The article was published before Tesla. Indeed Tesla can be on top of the list. Many other companies can be included into the list. Some large companies are using this technology but due to some reasons none knows about the companies and the technology they use. Also, time after time there are much more companies getting attracted by blockchain and that's why this list can updated even daily/weekly so we won't miss the companies like Tesla and the others.
I wrote about the (Source)Forbes on the first paragraph. Also, I already wrote the Forbes title "Blockchain 50". not hard to search at all, but since I always use the people comments to make my topics look better and in order to use your comment sure I'll add the link.

The article might not yet updated or a work in progress to add more companies that are using blockchain. We sometimes see big companies that are cooperating with some ICO projects before. There are plenty now especially during Pandemic that uses blockchain to ease their transactions as well to solved problems. Some big companies might not yet introduced that they are using one or simply still on the stage of creating one that customized their needs based on their problems.

Blockchain is being used by several multi-billion dollar companies just because of 2 things it either cuts their costs and improve their efficiency or they wanna earn from it or both but those are mainly the reasons why they are utilizing the blockchain technology and integrating it in their businesses as sad to say they have more uses on the blockchain technology rather than Bitcoin itself that is why you will see that there is an ongoing patent war for blockchain while Bitcoin itself is just pushing for mass adoption until now.

Well, how about the car company? TESLA.
There are too many companies and institutions now that were successfully adopting blockchain and the good thing they also used bitcoin upon embracing blockchain technology. I imagine that perhaps in the future blockchain technology is very common everywhere in the country because we are evolving into technologies and blockchain is very suitable for this. Perhaps, time will come for these companies that adopting blockchain will keep growing and even small companies follow their steps.

That's a nice article, i had to search for the original, and it would be nice if you shared the link with us, for those users who want to see the full list here it is:

https://www.forbes.com/sites/michaeldelcastillo/2021/02/02/blockchain-50/

There we see some important business like Ant Group and other ones, but what was really weird was not to see tesla company on that list, They should be involved after the enormous investment they did.

For the third year in a row, Forbes magazine published an article titled Blockchain 50. In this article, Forbes lists companies that are leading the way in deploying distributed ledger technology with revenues or valuations of at least $ 1 billion.


Boeing
Aerospace company

Boeing Horizon X Investment Branch has allocated funding for the development of the SkyGrade project. SkyGrade is a blockchain-based air traffic control system designed to track and communicate with aircraft.



Chicago Mercantile Exchange Group
Foreign exchange company

CME Group, one of the largest markets for futures and call option trading, supported Bitcoin futures contracts in December 2017. The firm also offered Ethereum futures contracts in 2021.



Digital Currency Group
Capital market company

The company, which is the most active investor in the field of digital currency startups, has invested in 170 companies and projects or is the main shareholder. Digital Currency Group also owns two of the largest digital currency institutions, Genesis trading platform with 1000 institutional clients, including Square payment and Grayscale Investments Company, which manages $ 27 billion assets.



Microsoft
Technology company

One of Microsoft's blockchain software, developed with Ernst & Young(EY), manages content and copyright. Xbox and Ubisoft were the first companies to use this system.



MicroStrategy
Business intelligence company

This intelligence company started the process of storing bitcoins in the company's coffers and buying more than $1 billion of this crypto currency in 2020 to compensating inflation. Morgan Stanley recently bought an 11 percent of the company sharing.



Tencent
Multinational conglomerate company

The blockchain created by Tencent is used by the Shenzhen Tax Services to issue about 10 million bills. Tencent also founded WeBank, that it's blockchain platform FISCO BCOS is used by more than 2,000 other companies.



Visa
Global Payments Technology Company

The company has registered more than 159 blockchain-related patents for things like securing transactions and using biometrics to verify identities.
In December, Visa announced a merger with the StableCoin USDC with the aim of accelerating corporate payments to international corporations.



Saudi Aramco
Arabian Oil Company

Back in 2019, Aramco invested 6 million in Data Gumbo. The company has built a Blockchain platform that aims to integrate thousands of sensors used in oil fields and refineries. Aramco aims to better assess asset performance and match smart contracts with Aramco dealers.



Samsung
Multinational conglomerate company

The company's IT division has built several blockchain projects for local governments, hospitals, airports. One of these projects is the medical claims processing services at once for the hospitals or via their smartphones.



PayPal
Payments Company

PayPal payment processing company is working hard to gain a leading position in the future of digital assets and central bank currencies.



Binance
Cryptocurrency exchange company

Binance is the world's largest crypto currency exchange with 184 digital assets on its list and supports about 100 blockchains. The total value exchanged in this exchange was over than 2 trillion dollar, last year. Binance issued a cash visa card in July that automatically converts users' crypto assets into local currency and accepted/used by ~70 million stores worldwide.



JPMorgan
Investment banking company

JPMorgan has invited 425 banks, including Deutsche Bank and Banorte, to use its blockchain network called 'Liink' to speed up and streamline interbank transactions.


https://www.forbes.com/sites/michaeldelcastillo/2021/02/02/blockchain-50/