Exploring blockchains: Big 20 public companies
2008, the year when blockchain was introduced. Since then, this emerging technology has conquered worldwide industries. As a part of the benefit, companies get transparency, cost & time effectiveness, better security, and much more. Today, many big and small corporations are bringing in blockchain implementation and trying to transform and improve their concerning operations. If not, they are supporting blockchain technologies like this bitcoin trading software, which are improving many industries.
There are many companies, but amidst the same, the top 20 biggest names have already implemented this technology and with their inspiration from Bitcoin move ahead.
Industrial and Commercial Bank of China
This giant is on top of the list at $165 billion. As a report made by coinbase, the organization did explore using the blockchain, which means to improve efficiency for issuing the certificates by making sure that the users do not repetitively file to the entries, the same document.
The technology could have helped streamline the document authentication digitally and further, also cutting down to the counterfeiting effectiveness.
China Construction Bank corporation
With sales of 143.2 billion, the bank for streamlining the sale of financial products made by the bank and insurance company jointly used the IBM blockchain platform. Their implementation is public, and the partnership of high-profile is used for improvement.
JPMorgan Chase & Co.
They stand on the list at 3rd position with high valued assets. Located in the United States, the organization has a sales of $118.18 billion. With their diversified financials, the company is amidst the highly active ones in the integration of blockchain technology. Pfizer and HIS Markit, they are included in the organization’s high-profile clients and have proved to be highly active integrators of blockchain.
Berkshire Hathaway Inc.
Having sales of $235.16 billion, the subsidiary of this organization, BNSF railroad and Richline Group, the subsidiary of fine jewellery, has been exploring the blockchain for streamlining the supply chains. Surely this is acting as a new change for them for proper revolutionization that was needed to be brought in.
Agricultural Bank of China
Located in China, this is a state-owned Bank. The sales of this organization are $129.34 billion, and the assets are valued at $3.4 trillion. For them, blockchain implementation is meant to streamline the e-commerce companies’ loans, which are land-backed.
Bank of America
They have sales worth $102.98 billion and are called blockchain technology prolific patenters. By the use of Ethereum blockchain, the bank is trying to automate the processing and creation of letters of credit.
Wells Fargo & Company
A simple way for tracking the security home mortgage; this is what the bank is trying to build using the blockchain technology. They are consortium R3, distributed ledger, an early member with a sales of $102.06 billion.
Located in the United States, their sales amount to $247.53 billion/year. Even though the blockchain exploration was quiet for a long time, which company was found to reveal recently about a patent application, where was presented the use of blockchain technology for time-stamping the data.
Bank of China Ltd.
This organization has sales worth $118.15 billion. It is located in China and has partnered with Tencent, a tech giant, for testing blockchain technology financial applications. As reported by CoinDesk, many such patents have been filed by them.
Ping An Insurance Company
Their sales amount to $141.62 billion, and they are a member of R3, a distributed ledger group. They also work with insurance firms to explore the further application of blockchain.
Royal Dutch Shell Plc.
The organization is located in the Netherlands and has sales worth $321.77 billion. They are a blockchain development firm investor and the user of this technology. They have also been trying to create a platform for energy commodities and are working with BP.
Toyota Motor Corp.
The company is one of the founding members of Consortium, blockchain mobility. To enable self-driving cars, this joint manufacturer located in Japan is using blockchain technology. They have sales of $265.17 billion and are growing.
Samsung Electronics Co.
This is a South area-based company with sales of $224.64 billion. For tracking the supply chains globally, they announced a platform named Nexledger.
BNP Paribas SA
They have been ranked on Global 2000, on 19th position. It is a France based Bank that is walking with EY to use the blockchain to improve the operations of the internal treasury.
It was 3-years back when the Azure blockchain system was rolled out by Microsoft. It was done for its cloud computing platform, and today the best software giant is using it for connecting some of the major products with the system. They were amidst first, while monetization of blockchain services. With sales of $103.31 billion, they are exploring their way of using the decentralized blockchain and trying to prove that they stand forefront for the implementation of this technology.
Located in Germany, they have $122.55 billion in sales. The company has been using blockchain technology as a token for moving value, exploration.
The Alphabet Inc. is the world’s influential company. They are with their resources available, trying to develop their own system of blockchain. While exploring, they are also investing in tech startups to help them assess this emerging technology. Their sales, as of today, amount to $117.88 billion.
Their sales per year are $500.34 billion, and this retail joint, as of today, is a blockchain technology user, the largest company. Public safety and improving transparency is the main goal with the application of blockchain.
Daimler AG has explored the way to issue their own coins, Mobicoin. It comes as a reward to customers and is also used in manufacturing segment integration. They had even issued, in 2017, €100 million bonds using the Ethereum and have a sales of $193.22 billion.
It is a Spanish public company with sales worth $56.07 billion. Using Ripple technology, they have launched payments applications and stand on 31st position on the Global 2000 list.
The technology of blockchain is neither a trend nor a hype. Capability and the opportunity it offers help solve some of the complex tasks of businesses in every industry. If you look today, even the large corporations are adopting it, and with successful implementation, they have made blockchain as mainstream for having a competitive advantage.