Companies Investing in Blockchain: Report By Coinpalais

Companies Investing in Blockchain: Report By Coinpalais. Do you want to know about the companies that are investing in blockchain? If you do, then you have come to the right place. Innovation comes at a cost, and it is up to big companies to provide the cost for the initial big push.

Blockchain innovation is no different. It requires collaboration from the largest companies and innovative startups to push the boundaries. Blockchain technology is in its early stages, and there is still time for it to mature. There are already multiple projects related to blockchain that are trying to solve the distributed ledger problem in new ways.

Coinpalais’s article will look at the top companies investing in blockchain. When we say they are investing, they are either putting the money in to advance the blockchain technology or utilizing it themselves to improve its evolution, adoption, and growth.

What is Blockchain?

Blockchain is a distributed ledger technology. It offers the ability to communicate, transact, and store data without a centralized entity. A blockchain network consists of peers. Each of the peers has a copy of the distributed ledger for public networks. For private networks, peers can be picked for participation and carrying the distributed ledgers.

Some key features of blockchain make it so amazing! These features include:

• Immutability
• Transparency
• Security
• Distributed ledger

 

Blockchain: Hype or Not?

Blockchain’s hype is something that not everyone can agree on. Is blockchain going to change how we solve problems in the future? Well, that’s hard to answer. But, there are still different opinions on whether blockchain answers all the problems. We are discussing blockchain hype because it determines the investment drive of companies. However, we can also see the situation from a different scope where the company’s investment impacts blockchain hype.

In any case, it is hard to ascertain the real impact of blockchain until it matures. Thus, if you pick up the numbers, predictions indicate that blockchain development is bound to grow in the coming years. Besides the development of budget growth, blockchain spending will also see a 76% year-by-year growth and reach $14.4 billion by 2020. Bruce Schneier, a security technologist, is not a fan of blockchain technology. His piece on why there is no good reason to trust blockchain on Weird explains why he thinks that way.

On the other hand, if we take cryptocurrencies, then blockchain might be in a good place. Bitcoin soared to new heights in 2019, where it reached $19K. However, it did fall to a mere 3K in the upcoming weeks, but it is now hovering stable around $10K. Many investment gurus have already predicted that Bitcoin will read $100K. Whether it will reach there or not is a debate on another topic.

Companies Investing In Blockchain

Now that we have covered quite a bit about blockchain, it is time to see which companies are mostly interested in blockchain technology and are helping it grow to new heights.

Finance

The finance sector is one of those sectors that have a good reception for blockchain technologies. The financial sector companies are also more conscious of seeing the benefits and, hence, coming forward to invest in the technology.

The financial companies investing in blockchain include the following:

• American Express Company

The American Express Company is a credit giant trying to test blockchain technology. By doing so, they will provide more value and power to their vendors and use blockchain technology. They operate in multiple segments, including Global Merchant, Global Consumer Services Group, and more!

• Banco Bilbao Vizcaya Argentaria

Another financial company that is invested in the blockchain is Banco Bilbao Vizcaya Argentina. The bank recently closed a 75 million pound corporate loan using Hyperledger Fabric and Ethereum. With a market cap of $21.8B, they are one of the largest banks in Spain. They engage in different sectors, including private banking, asset management, retail banking, and wholesale banking.

• Mizuho Financial Group

Mizuho Financial Group from Japan is one of the early adopters of blockchain and has invested in multiple blockchain projects. They are a holding company providing multiple financial services, including trust banking, securities, and others!

• BHP Billiton Limited

BHP Billion is one of the largest mining companies that is trying to improve its supply chain with the help of blockchain. There is no doubt that a blockchain-powered supply chain can be beneficial for a business if implemented correctly.

• Prudential Financial

Prudential Financial is another giant financial company known for backing up Blockchain Firm Digital Currency Group. Along with them, Foxconn and Western Union have also invested in the Group, improving the blockchain technology landscape.

• Intesa Sanpaolo

Intesa Sanpaolo is an Italian bank that has invested in public blockchains. For now, they have invested in Bitcoin technology and Ethereum. Therefore, they are using these two technologies to improve their business processes.

• Sberbank Russia

Sberbank Russia is a Russian bank. In reality, they launched a blockchain lab and are also working with Russia’s securities to explore the idea of blockchain corporate bonds. They engage in retail and corporate banking activities, including settlement services, payroll projects, asset management, corporate loans, and more!

• Royal Bank of Canada

The Royal Bank of Canada is exploring blockchain technology by checking out the different blockchain solutions for automating credit scores. They are based in Canada and operate through many segments, including insurance, wealth management, commercial and personal banking, and so on!

• Banco Santander

Banco Santander is another popular bank in Spain. Their investment is in Ripple technology and also in Digital Asset Holdings. They work in different segments, including Santander Global Platform, South America, and North America.

• BNP Paribas

A France-based BNP Paribas bank that is investing in blockchain technology for internal treasury operations. They operate in multiple sectors, including corporate, institutional banking, retail services, and helping community associations, individuals, entrepreneurs, and others.

• Bank of China Ltd.

Bank of China Ltd. is one of the biggest Chinese banks that have invested in blockchain technology. They are testing financial applications using blockchain technology and have worked hard to improve its integration. They have also filed related patents on blockchain technology usage for financial applications.

• Wells Fargo & Company

Wells Fargo & Company is a well-known company in the United States. They are community-based financial services that are diversified in nature. They engage in multiple activities, including investments, insurance, banking, commercial finance, consumer and mortgage.

• Bank of America

Bank of America is one of the biggest players in blockchain technology investment funds. They also have a good number of prolific patents related to blockchain technology. They want to automate the creation of credit letters with the help of the Ethereum blockchain.

• JPMorgan Chase & Co.

JPMorgan Chase & Co. is another USA company that is contributing to Quorum. Quorum is a known open-source community, and JPMorgan Chase and Co. is working to improve it. It is a financial holding company that offers investment and financial services.

Technology

The technology companies are also in the race to improve blockchain technology. After all, blockchain is a technology, and there is no doubt that technological companies can benefit immensely if it becomes mainstream or solves technological problems in the future.

• Oracle Corporation

Oracle is one of the technology companies at the frontier of blockchain development and collaboration. Furthermore, they offer their blockchain services to other companies, so they do not have to build it from scratch. Thor cloud service and SaaS applications can work with different business processes, including the supply chain. They also offer on-premises editions.

• Oracle Blockchain Platform Cloud Service
• Oracle Blockchain Platform Enterprise Platform
• Intelligent Track and Trace
• Oracle Database 20c Blockchain Tables

• Apple Inc

Apple is a computer technology giant working behind the door on blockchain technology. They have filed patents to timestamp data. They are also working on using it in different sections of their business process, but the word is not out there on how they will approach the implementation process.

• Alphabet

Alphabet is an umbrella corporation that incorporates Google. They are working with Digital Asset to include blockchain platforms and their related developer tools in the Google Cloud Platform ecosystem. Google, on the other hand, is also investing their resources and talent in blockchain technology. They now offer services to deploy cloud applications or hybrid blockchain using Google Cloud and Ethereum.

• Tencent Holdings Ltd

Tencent Holdings Ltd is a China-based investment company engaged in online advertising and value-added services. They announced they are exploring taxes and blockchain.

• Alibaba Group Holding Ltd

Alibaba Cloud offers blockchain as a service that enables businesses’ enterprise-level platforms without the need to manage the actual infrastructure. Their BaaS supports Ant Blockchain technologies, Quorum, and Hyperledger Fabric.

• Facebook

Facebook revealed its Libra cryptocurrency plans and integrated the cryptocurrency payment plan into social media platforms. The initial support for them was huge. With time, they have refined the process and will now focus on government-backed cryptocurrencies. Their other project is Novi, which is a digital wallet.

• IBM

IBM is also the front-runner when it comes to investing in blockchain. Their IBM blockchain service enables businesses to use blockchain technology and not worry about creating a blockchain network. Businesses can join existing networks, build their solution, and create a solution that works!

• Amazon.com

Amazon is also heavily invested in blockchain technology. They are offering cloud integration to popular blockchain solutions, including Ethereum. Moreover, they are partnered with ConsenSys. They also offer the Amazon Managed Blockchain, which lets businesses manage and create scalable blockchain networks. With it, businesses can use Hyperledger Fabric with support for Ethereum, which is coming soon. They also have their own verifiable ledger database technology, Amazon QLDB.

• Intel

Intel also understands blockchain’s importance and, is working towards shaping blockchain technology. So, Intel is currently collaborating with other industry leaders, customers, and thought leaders to improve and mature blockchain technology. They have three major blockchain players in their ecosystem: Hyperledger, Enterprise Ethereum Alliance and R3.

• Morgan Stanley

Morgan Stanley is a US company that is interested in improving blockchain technology. They are investing in future Bitcoin contracts for their customers.

• Microsoft Corporation

Just like other cloud service providers, they also provide blockchain services using Azure. They offer Azure-blockchain-service, Azure-blockchain-workbench and Azure-blockchain-development-kit.

• Samsung Electronics Co.

Samsung is also keen to improve blockchain and has been working on its Nexledger platform to track the global supply chain.

Insurance

The insurance industry is in dire need of change, and blockchain technology can catalyse change. The key companies that are investing in blockchain include:

• AIA Group

AIA Group from Hong Kong is an insurance giant. They revealed their new blockchain-powered insurance platform, bancassurance, which utilizes their blockchain accelerator and Hyperledger Fabric.

• MetLife Inc.

MetLife from the United States is partnering up with other companies such as IBM and Majesco so that they can build their insurance blockchain platform.

• AXA Group

AXA Group from France launched its new Fizzy smart contract platform, automating flight insurance payments. It utilizes ethereum at its core.

• Allianz SE

Allianz SE is working towards creating a self-reliant insurance platform. They also created a prototype for their platform.

Entertainment

The entertainment industry is also not shying away from investing in blockchain. The two key players that we know that are actively investing in blockchain technology are:

• Walt Disney Company

Walt Disney Company is a US-based company that uses Dragonchain, a blockchain solution, to improve its platform. They developed it internally in 2014 and then open-sourced it in 2016. The Dragon Company also manages a commercial entity.

• Comcast Corporation

Comcast Corporation is interested in blockchain technology and is showing that interest by investing in blockchain startups. They also announced their blockchain platform known as Blockgraph. More so, it is a peer-to-peer platform that will help protect the marketers’ and media companies’ data.

Automobiles

• Ford Motor Company

Ford Motor Company is investing in blockchain as they plan to use it for the auto industry. They patented their research on controlling traffic flow using blockchain.

• Mitsubishi UFJ Financial Group

Mitsubishi UFJ Financial Group is planning to launch its blockchain solution. They have already joined hands with the Ripple payments network.

• Daimler AG

Daimler AG from Germany is also interested in blockchain, as they made a 100-pound corporate bond with Ethereum. They are makers of Mercedes-Benz and are experimenting with their cryptocurrency.

• Toyota Motor Corp.

Toyota Motor Corp. is another automobile company that is exploring blockchain. Furthermore, they are exploring enabling self-driving cars with blockchain payments.

Food, Supply Chain and Retail, and others

Other companies in the market are actively investing in blockchain technology. They are as follows.

• Nestle
• Anheuser-Busch InBev
• Pfizer
• Walmart
• Agricultural Bank of China
• ING Group
• Siemens AG
• Berkshire Hathaway Inc.
• China Construction Bank Corporation
• Industrial and Commercial Bank of China

Conclusion

This leads us to the end of our top companies investing in blockchain 2024. As you can see, so many companies in different verticals are investing in blockchain technology and helping evolve it to new heights. Blockchain is still in its infancy, and it will take the effort of all the major players and startups to mature. The adoption rate of blockchain is also improving with time, and we can see it in a better place soon.