The cryptocurrency industry has been on a roller coaster ride over the past few years. However, despite the recent market downturn, some traditional companies are still moving into crypto. Here are 8 established companies that are aware of investing in blockchain for business:
8 Established Companies Investing in Blockchain for Business
Microsoft
Microsoft has been one of the most active traditional companies in the cryptocurrency space. The tech giant has accepted Bitcoin as payment for some of its products since 2014. In early 2018, Microsoft launched a blockchain-based identity platform called Identity Overlay Network (ION). Microsoft is also an investor in blockchain startup ConsenSys.
Amazon
Amazon, the world’s largest online retailer, has also been actively involved in cryptocurrency and investing in blockchain for business. The company has filed multiple patents related to cryptocurrency and blockchain technology. In addition, Amazon Web Services (AWS) has a blockchain-based platform called Amazon Managed Blockchain.
Google, one of the largest technology companies in the world, is also exploring the use of blockchain technology. The company has filed multiple blockchain-related patents and is investing in blockchain startups. In addition, Google Cloud’s cloud computing platform offers a service called Cloud Bigtable that can be used to store and process data via blockchain for business.
IBM
As one of the oldest technology companies in the world, IBM has been a leader in developing enterprise-grade blockchain solutions. The company produced its blockchain platform called IBM Blockchain Platform. IBM also has a blockchain-based supply chain called the Blockchain Food Safety Alliance.
Apple
Apple, one of the most valuable companies in the world, has activated the use of blockchain technology. In early 2018, Apple filed a patent for a blockchain-based system that could be used to timestamp data. Also, Apple has a proprietary blockchain for business platform that can be used for its own internal operations.
Samsung
Samsung, one of the largest technology companies in the world, is also actively involved in the cryptocurrency space. The company has developed its blockchain platform called Nexledger and is working on several blockchain for business projects. Samsung is also a member of the Hyperledger consortium, and the firm has a blockchain-based identity solution service called Samsung Pass.
Alibaba
Alibaba, one of the largest e-commerce companies in the world, also uses blockchain technology. The company has developed its blockchain for business platform, Ant Blockchain. Alibaba is also a member of the Hyperledger consortium and has a blockchain-based supply chain solution service called the AliExpress Cross-Border Logistics Blockchain Traceability System.
Baidu
Baidu, one of China’s largest Internet businesses, is actively involved in the cryptocurrency sector. XuperChain, Baidu’s blockchain platform, has been developed, and the firm is working on several blockchain-based projects. Baidu is also a member of the Hyperledger consortium and has created Baidu Trust ID, a blockchain-based identity solution.
With the recent surge in popularity of blockchain technology, many large companies are taking notice and exploring its potential uses. While some may be initially hesitant to adopt new methods, it is likely that we will see more and more companies making the switch in the near future. After all, blockchain offers a number of advantages that are simply too hard to ignore.
For one, it is much more secure than traditional methods, which is increasingly important in our digitized world. In addition, it is also faster and more efficient, saving both time and money. As we move further into the 21st century, it is clear that blockchain is the way of the future – and large companies would be wise to hop on board the bandwagon sooner rather than later.
Many large companies are starting to explore the use of blockchain technology. With all this attention, we can predict that large companies will be interested in adopting these new ways to conduct business, and more will follow suit as time goes on!
These companies are investing in blockchain because they believe in its potential to revolutionize how business is done. Blockchain provides a secure, decentralized infrastructure that can streamline processes and reduce costs.
With so much potential, it’s no wonder that these established companies are taking notice of blockchain technology.
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