By Natalie Lord
Blockchain technology is revolutionising industries across the globe and is set to transform the business landscape significantly in the future. We take a look at how some of the world’s largest corporations are exploring and utilising blockchain.
According to Forbes Global 2000 list of 2018, all ten of the largest public companies are exploring blockchain, with at least 50 of the biggest names on the list having made their own mark of the technology.
Below we look at how 15 leading companies around the world are investing in blockchain.
Based in the United States, Walmart has sales of $500.34 billion. The global grocer has expanded its blockchain involvement to supply other chains, after an early prototype to use Hyperledger Fabric in the pork chain supply.
Royal Dutch Shell of the Netherlands has invested in Applied Blockchain, a blockchain development company. It’s also working with BP to create an energy commodities platform. It shows sales of $321.77 billion.
Toyota Motor Corporation of Japan has sales of $265.17 billion and was a founding member of the Blockchain Mobility Consortium. Toyota is exploring how blockchain payments could enable self-driving cars.
Apple Inc of the United States has sales of $247.53 billion. It has filed a patent for using blockchain technology to timestamp data.
With sales of $224.64 billion, Samsung Electronics Co unveiled its Nexledger platform for tracking global supply chains in 2017.
United States company, Berkshire Hathaway, shows sales of $235.16 billion. Its subsidiary BNSF railroad and its fine jewellery subsidiary, Richline Group, are looking into blockchain technology to streamline their supply chains.
In Germany, Daimler AG, issued a Euros100 million corporate bond using ethereum in 2017 and has started testing its own cryptocurrency. Daimler has sales of $193.22 billion.
Industrial and Commercial Bank of China, located in China, boasts sales of $165 billion. A patent filed by the bank describes a way of using blockchain technology to verify digital certificates instead of a trusted central authority.
China Construction Bank Corporation shows sales of $143.2 billion. CCB is using the IBM blockchain platform to streamline the way banks and insurance companies sell some of their financial products.
Ping An Insurance
Ping An Insurance, also in China, is a member of distributed ledger group R3 and works with other insurance companies to explore blockchain. The company has sales of $141.62 billion.
Agricultural Bank of China
Meanwhile, China’s state-owned bank, Agricultural Bank of China, is working on a decentralized network to offer unsecured agricultural loans to e-commence merchants. It purports sales of $129.34 billion.
Allianz of Germany has built a prototype for “self-insurance” and is reported to be exploring a token for moving value. Its sales are at $122.55 billion.
JP Morgan Chase
JP Morgan Chase in the United States introduced a blockchain platform called Quorum to the open-source community, with a number of developers expressing interest. JP Morgan Chase show sales of $118.18 billion.
Bank of China
Elsewhere, Bank of China has partnered with tech giant Tencent to test financial applications of blockchain technology and has reportedly filed a number of related patents. Bank of China has sales of $118.15 billion.
Back in the United States, Alphabet Inc, has made a number of blockchain investments and it working on its own blockchain projects. It has sales of $117.88 billion.
It’s clear to see that regardless of geographical location or the nature of the industry, blockchain is impacting all manner of businesses in a variety of ways. However and wherever you look, it appears the future is blockchain.