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 different Microsoft products.
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In 2017, Microsoft released an enterprise cloud solution called Azure Blockchain as a Service (BaaS) that lets businesses use the Ethereum Virtual Machine to create and run their own private or public blockchains on Azure infrastructure.
That same year, it also joined forces with IBM to develop their own version of Hyperledger Fabric—a supercomputer 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 thus far; however, they are also spearheading efforts within government agencies such as the U.S Department Of Homeland Security and NASA where there has been significant interest in using this technology for tracking shipments and cargo throughout supply chains.[3]
Google (NASDAQ:GOOGL) is a member of the Hyperledger consortium, which includes many other tech giants like IBM, Intel and Microsoft. The company has also been working on blockchain technology for some time now.
In June 2018, Google announced that it would be investing $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 get ahead in this new space 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 offers cloud computing services to customers, including blockchain-as-a-service (BaaS). In addition, AWS offers a variety of tools for developers who use blockchain technology.
Amazon.com, Inc. (NASDAQ:AMZN) has been working with other companies to develop their own platforms that are based on Ethereum or Hyperledger Fabric frameworks. Additionally, they have created their own cryptocurrency called Amazon Coins which can be used when buying products from them through their website or app marketplace.
JPMorgan Chase
JPMorgan Chase & Co (NYSE:JPM) is a global financial services firm based in New York City. The company was founded by John Pierpont Morgan in 1869, and it’s been around ever since.
The bank has been a leader in blockchain research and development, including its involvement with Quorum—a permissioned blockchain designed by JPMorgan Chase that can be used for business applications like clearing securities transactions or settling financial contracts.
In fact, the bank was one of the founding members of the Enterprise Ethereum Alliance (EEA), an organization dedicated to creating standards for developing 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 store cryptocurrencies securely; its new Global Trade Cloud platform allows businesses to track their supply chains; and its 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’re working on many different projects. IBM is a leader in blockchain research, and they’ve been working with the government of Dubai to improve the efficiency of their government services. They also work with Walmart and Maersk to track food supply chains and shipping container tracking systems 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 like PayPal or Visa/Mastercard—which can take up to 3 days for international transfers!
Large Companies Are Investing In Blockchain
In the last few 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 one person or company will be able to control the information in this database, which makes it more secure than traditional databases like those used by banks and governments.
Companies are investing in blockchain because they see potential for improved services as well as improved security for their customers’ data:
It’s safe to say that blockchain will be one of the most influential technologies of the 21st century. It has the potential to transform every industry, from finance and healthcare to energy and transportation. The technology is still in its infancy, but it has already begun to revolutionise bitcoin bank breaker how we do business today.
