Influential companies in the blockchain industry
The blockchain industry is booming and big companies are investing in it. Here are some of the most influential companies in the blockchain industry:
Microsoft
Microsoft Corp (NASDAQ:MSFT) is a large company with many products. Microsoft’s history of investing in blockchain is more than two decades old. The company has been working on its own version of blockchain since at least 2014, when it partnered with Ethereum to build a private blockchain for tracking software licenses across various Microsoft products.
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In 2017, Microsoft released an enterprise cloud solution called Azure Blockchain as a Service (BaaS) that allows businesses to use the Ethereum Virtual Machine to create and run their own private or public blockchains on Azure infrastructure.
That same year, it also partnered with IBM to develop their own version of the Hyperledger Fabric – a supercomputing fabric that runs multiple applications side-by-side at high speeds – on top of BaaS.[2]
Microsoft’s efforts around blockchain technology have largely focused on enterprise solutions so far; however, they are also at the forefront of efforts within government agencies such as the US Department of Homeland Security and NASA, where there has been significant interest in using this technology to track shipments and cargo through supply chains.[3]
Google (NASDAQ:GOOGL) is a member of the Hyperledger consortium, which includes many other tech giants such as IBM, Intel and Microsoft. The company has also been working with blockchain technology for some time now.
In June 2018, Google announced that it would invest $1 billion in Digital Asset to help build out its own cryptocurrency called “Google Coin” (GOOGL). This move was seen as an attempt by Google to move forward in this new area by partnering with one of the biggest names in digital currencies right now: Coinbase!
Amazon
Amazon Web Services (AWS) is a major player in the blockchain industry. The company provides cloud computing services to customers, including blockchain-as-a-service (BaaS). In addition, AWS offers a number of tools for developers using blockchain technology.
Amazon.com, Inc. (NASDAQ:AMZN) has worked with other companies to develop their own platforms that are based on the Ethereum or Hyperledger Fabric frameworks. Additionally, they have created their own cryptocurrency called Amazon Coins that can be used when purchasing products from them via their website or app marketplace.
JPMorgan Chase
JPMorgan Chase & Co (NYSE:JPM) is a global financial firm based in New York City. The company was founded by John Pierpont Morgan in 1869 and has been around ever since.
The bank has been a leader in blockchain research and development, including its involvement in Quorum – a permissioned blockchain designed by JPMorgan Chase that can be used for business applications such as clearing securities transactions or settling financial contracts.
In fact, the bank was one of the founders of the Enterprise Ethereum Alliance (EEA), an organization dedicated to creating standards for the development of decentralized applications on top of Ethereum’s network protocol.
In addition to Quorum, JP Morgan Chase has also released several other products that leverage distributed ledger technology: its Crypto Custody offering helps institutions securely store cryptocurrencies; the new Global Trade Cloud platform allows companies to track their supply chains; and the Blockchain Services Center provides consulting services related to these initiatives
IBM
IBM (NYSE:IBM) is one of the most influential companies in the blockchain industry, and it’s no surprise that they are working on many different projects. IBM is a leader in blockchain research and has been working with the Government of Dubai to improve the efficiency of its public services. They also work with Walmart and Maersk to track food supply chains and tracking systems for shipping containers, respectively.
IBM has created its own cryptocurrency called “Blockchain World Wire” (BWW). The purpose of BWW is to facilitate cross-border payments between banks or other financial institutions without having to go through an intermediary such as PayPal or Visa/Mastercard – which can take up to 3 days for international transfers!
Large companies are investing in blockchain
In recent years, many large companies have invested in blockchain technology. The idea behind blockchain is that it can be used to create a decentralized database of transactions and secure it with cryptography.
This means that no person or company will be able to control the information in this database, making it more secure than traditional databases such as those used by banks and governments.
Companies are investing in blockchain because they see the potential for improved services as well as improved security for customers’ data:
It is safe to say that blockchain will be one of the most influential technologies of the 21st century. It has the potential to transform all industries, from finance and healthcare to energy and transport. The technology is still in its infancy, but it has already begun to revolutionize bitcoin bank breaker how we do business today.
