Top public companies are betting big on blockchain technology
Blockchain technology is now so big that businesses can no longer ignore it, and some have already begun to take the lead in integrating the technology into their businesses. The top companies around the world are currently betting big on the market, and according to a new report, a good number of the top 100 countries worldwide are already using blockchain technology.
Top companies using blockchain technology
The top 100 countries worldwide have trillions of dollars in market capitalization among them. They range from technology conglomerates to social media giants. But one thing these companies have in common is their ability to embrace new technology to advance their business.
A new report from Blockdata has revealed that a large number of these top companies have thrown their hat into the ring with blockchain technology. A total of 44 of the top 100 companies spanning six major sectors have already begun to integrate crypto and blockchain technology into some part of their business.
Naturally, the technology companies have been at the forefront of this integration, but the media and telecom companies have not been behind either. The three sectors accounted for 36% of the top companies using blockchain.
Tech, media, and telecom lead blockchain technology adoption | Source: Blockdata
Consumer & retail and basic materials & industry followed closely behind with 20% respectively. Next in line was the economy which had seen an increase in use of 11%. Energy and utilities accounted for 9%, while healthcare came in at a low 2%.
Companies such as Meta, Mastercard, Visa, etc., have been prominent in the area for various integrations. Meta had introduced a feature that allowed users on the Facebook and Instagram platforms to post NFTs. It is also designing an open metaverse.
Total market cap hits $851 billion | Source: Crypto Total Market Cap on TradingView.com
Crypto payments have become even more popular as Mastercard and Visa have announced various partnerships to help users pay with crypto. For example, Crypto.com users can spend their crypto balances on the exchange using their Visa cards.
Although blockchain technology seems to be the most prominent among payment companies, it has also shown good use cases in supply chain management, identity verification and a number of others. So despite many governments around the world trying to regulate the space, it hasn’t discouraged companies from integrating it.
According to the report, 86 of the top 100 companies are actively looking at integrating blockchain-related solutions for their needs, while 44 have already used blockchain technology since 2021.
Featured image from Fintech News Singapore, chart from TradingView.com
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