Well, so far we’ve only talked about crypto projects that are solely from the crypto industry. However, this article will be a little different. Instead of solely looking at crypto projects, let’s look at a few established companies that use blockchain to run their everyday business, and mind you, there are many. And a testament to that fact is the fact that it is making impressive inroads on Wall Street too! Blockchain technology is being embraced by some of the biggest titans of the tech industry.
And this is more so as more and more companies creating and hosting blockchain technologies like blockchain applications or crypto exchanges, some of which now even featuring on the stock market and proving to be profitable assets for investors. Heres a list of some of the most prominent companies that use or offer blockchain based services today.
|IBM||One of its biggest blockchain based business include services to help businesses integrate blockchain systems into their own processes.|
|Microsoft||It has developed a fully managed ledger based service for other companies to take advantage of for their own businesses and even scaled the enterprise blockchain applications and smart contracts in the cloud.|
|Block Inc.||Founded by Twitter co-founder, Jack Dorsey, Block Inc is another major fintech player that is also working in the blockchain and crypto space notable for running payment platforms and crypto services based company called Square.|
|Mastercard||Mastercard, the second largest payment processing corporation worldwide has also ventured into the blockchain space, along with offering a wide variety of other financial services.|
|PayPal||As crypto grew more and more popular, being recognized by the mainstream public, PayPal introduced crypto services too – where you can use their platform to buy, store and even exchange several popular cryptos like Bitcoin, Bitcoin Cash, Ethereum and Litecoin.|
|Microstrategy||This company is currently the largest institutional holder of Bitcoins in the world with over 130,000 Bitcoins with an average buying price of $30,623 per BTC at a total holding value of $3.981 billion.|
|FedEx||FedEx has not become the first big shipping giant to incorporate blockchain technology into their supply chain management to improve efficiency of their network and overall business.|
|Walmart||Walmart in partnership with nine other food companies have tied up with IBM to create a blockchain system to track food globally through its supply chain.|
|Infosys||Infosys is the second largest IT MNC company in India and is has been driving enterprise-wise adoption of blockchain powered business networks across the various industries it is involved in.|
|HCL Technologies||HCL Technologies has a ‘Blockchain Labs’ division that offers solution driven practice with expertise across all major enterprise blockchain platforms.|
IBM, one of the pioneers in the technology space founded in the United States has been an active player in the blockchain space. One of its biggest blockchain based business include services to help businesses integrate blockchain systems into their own processes. IBM also hosts its own blockchain platform and open-source framework known as Hyperledger Fabric. IBM’s blockchain solutions have helped overcome hurdles in supply chains, credential security and even digital asset management in other companies. It also has over 120,000 organization contributing to the Hyperledger Fabric project.
Microsoft is a very well known brand in the space of technology, as they were the ones to come up with the most popular concept of personal computers or PCs which have redefined our world as we know it today. Founded by Bill Gates, it has been at the forefront of cutting edge technologies and has been one step ahead in the blockchain industry too. So much so that Microsoft had started accepting Bitcoin payments on its website back in 2014 when almost no one had even heard of cryptos. The company has also secured almost 40 patents related to the use of blockchains as payment gateways and also for means for secure data storage.
For example, in a partnership with another software company called Consensys, Microsoft’s Azure platform offers the Quorum Blockchain Service, which has helped to establish multiple blockchain based companies across a variety of sectors. Thanks to its fully-managed ledger services, it has created and scaled the enterprise blockchain applications and smart contracts in the cloud used by other behemoths like Bosch and Prescryptive Health.
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Founded by Twitter co-founder, Jack Dorsey, Block Inc is another major fintech player that is also working in the blockchain and crypto space. Block is the parent company of payment platforms and crypto services based company called Square, Cash App, Spiral, TBD and Afterpay. At its core, this company is focused its energies to providing mobile payments services more accessible to users and smaller businesses – including crypto banking support. The company strives to create tools that enable businesses, merchants, sellers and individuals to be able to participate in the economy. The Square segment of Block Inc. includes managed payment services, software solutions, hardware and financial services products for sellers.
Mastercard, the second largest payment processing corporation worldwide has also ventured into the blockchain space, along with offering a wide variety of other financial services. Very recently, Mastercard launched a new product called Crypto Secure – a software solution that helps banks and other financial institutions to identify and cut-off transactions from fraud prone crypto exchanges. According to the company, the system uses sophisticated artificial intelligence algorithms to determine the risk of crime associated on the Mastercard payment network. It relies on data from the blockchain, a public record of all crypto transactions as well as other sources. This has been one of the biggest step forwards in the space as a whole as it will trigger adoption and reduce fraud and crime in this space.
PayPal is yet another company that was founded with the objective of making money simpler to be sent from one person to another seamlessly. It also allows small businesses to scale by being able to quickly send and receive money from several countries across the world. As crypto grew more and more popular, being recognized by the mainstream public, PayPal introduced crypto services too – where you can use their platform to buy, store and even exchange several popular cryptos like Bitcoin, Bitcoin Cash, Ethereum and Litecoin too. PayPal boasts of a 400 million strong global user base, thus making it a very popular money and crypto transfer application.
All the way back in 1989, MicroStrategy was founded by Michael Saylor, sanju Bansal and Thomas Spahr. This is a firm that develops software solutions to analyze internal and external data in order to make business decision and develop various mobile applications. It is a publicly listed company working primarily in the business analytics industry but it began foraying into Bitcoin very early on and is currently the largest institutional holder of Bitcoins in the world – it owns over 130,000 Bitcoins as of 20 September, 2022 with an average buying price of $30,623 per BTC thus has a total holding value of $3.981 billion. Michael Saylor has been a very loud proponent of Bitcoins ever since his company began investing in this and has been going very strong!
MSTR vs. Big Tech since @MicroStategy adopted a #Bitcoin Standard. pic.twitter.com/9TfmqgwgYD
— Michael Saylor⚡️ (@saylor) October 27, 2022
FedEx is a well known brand from the logistics business, in fact it is one of the world’s biggest logistics management companies and handles billions of dollars worth of cargo every year. And of late, it has not become the first big shipping giant to incorporate blockchain technology into their supply chain management to improve efficiency of their network and overall business. So far, they are using blockchains to track high-value cargo and are soon planning to extend this functionality to almost their entire shipping business. Alongside that, they are also helping to develop blockchain based industry standards for supply chain logistics to establish themselves as a pioneer in the field.
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Walmart, the biggest retail player in the United States, has forayed into the blockchain space as well. Walmart in partnership with nine other food companies have tied up with IBM to create a blockchain system to track food globally through its supply chain. The network will use real time data captured at every point and on every since food product. This partnership, known as the Food Trust Blockchain, includes giants like Nestlé SA, Dole Food Co., Unilever, and several others. This initiative with IBM began back in 2016 and began conducting trials of the blockchain network as recently as August 2020. The goal of this initiative is to improve the company’s ability to identify issues involved with food recalls, and tracing outbreaks to limit consumer risk.
Infosys Limited is an Indian multinational information technology (IT) company that specializes in providing software solutions for various industries like business consulting, information technology and even outsourcing services to other companies. It is the second largest IT multinational company in India, after Tata Consultancy Services (TCS) and of late is has been driving enterprise-wise adoption of blockchain powered business networks across the various industries it is involved in. It does so by building meaningful commercial and incentive models for all stakeholders in the ecosystem. Infosys was even positioned as a leader in the NelsonHall NEAT Vendor evaluation for its blockchain development services in the year 2021.
HCL Technologies is yet another multinational information technology (IT) services and a consulting company based out of India. Originally a research and development division of HCL Enterprises, it emerged as an independent company back in 1991 when HCL decided to enter into the then booming software services business. Of late, its HCL Blockchain Labs division offers solution driven practice with expertise across all major enterprise blockchain platforms. Thanks to this expertise, they work closely with business leaders across a broad range of industries, consortia and multiple technology alliances across the world to deliver business value using blockchain based solutions.
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