As blockchain applications outside of cryptocurrency become more evident, corporate interest in the technology is increasing. In particular, blockchain solutions have the potential to streamline supply chains, reduce costs, and increase transparency. As a result, a growing number of businesses are exploring how blockchain can be used to improve their operations. While the full extent of blockchain’s potential is yet to be discovered, it is clear that this technology is poised to have a major impact on the business world. So, Changelly prepared a list of 20 companies using blockchain technology in 2022. Without further ado, let’s dive in!
Blockchain Solutions Adoption Is Expanding
Blockdata’s 2021 analysis reviewed the world’s top 100 businesses. 81 of them were found to be actively working with blockchain in three different areas: blockchain applications research, pilot or development phases, and live, in-production services used by customers, partners, and workers.
According to the research, 51 of the 81 businesses using blockchain technology have advanced past the pilot stage and are either in the development phase or offer full production services. As blockchain services must deliver real business value before they can be put into production, passing through the pilot stage is seen as a significant criterion for blockchain maturity. In addition, 27 of the top 100 public corporations have live, completely operational blockchain-based products.
11 of the top 100 publicly traded corporations are developing several blockchain-based solutions. Some of them are experimenting to find which technologies perform best, while others eventually switch to different technologies since they are better suited for their use cases.
Enterprises frequently choose Corda, Hyperledger, Ethereum, and Quorum for their blockchain space entries, and for a good reason — those enable them to create private, highly customized solutions.
The top 100 corporations began investing in blockchain as early as 2013 and continue to do so.
Between 2019 and 2021, when funding totals climbed by fourteenfold, the number of corporate-involved funding rounds increased significantly. As for favorable use cases for investing, 25 0f 100 top companies invested in their own blockchain platform development — companies desire a robust infrastructure to exploit the technology because they believe in its potential. The next 3 popular investment categories consist of payment solutions (22), blockchain services (17), and trading and exchange (12).
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Leading Use of Blockchain in Public Corporations & Top-20 Business Institutions Adopting Blockchain
Although blockchain was thought once to be useful solely in the banking sector, it has begun to disrupt a variety of other businesses as well. Companies all across the world are implementing blockchain technology with great success — from logistics to digital ID management. Some of them fall into the category of inherent blockchain companies, while others are well-known brands building their own blockchain lab with the goal of implementing this new technology. Here are the top 20 businesses that have already adopted blockchain technology into their daily operations.
One of the major businesses utilizing blockchain technology is Pfizer. The Clinical Supply Blockchain Working Group (CSBWG), which is led by Biogen and Pfizer, has just finished the development of a proof-of-concept project for managing the digital inventory of medicinal items and monitoring data.
- Change Healthcare
They are working on the Intelligent Healthcare Network, which will let them manage patient claims and track their statuses in real time using blockchain data.
Another significant business utilizing blockchain technology is DHL. With Accenture, they’re working on a proof-of-concept project that would track drugs from their point of origin to the customer. As a result, businesses will finally be free from the daily problems of medicine tampering and counterfeiting.
Along with Sinochem Energy Technology Co Ltd and Macquarie, Shell intends to employ blockchain for crude oil trading.
The company plans to use blockchain to create a more sustainable energy system.
The company is going to track electricity use with the help of Hyperledger Fabric.
Blockchain can help reduce identity theft and limit cyber liability for the insurance sector.
- AIA Group
The company started a project for bancassurance solutions. This platform will make use of blockchain potential to provide real-time, secure document and policy data sharing.
Banking and Financial Services Companies
- Commonwealth Bank Australia
CBA allowed its clients to buy, sell, and hold crypto assets directly via the CommBank app.
- UAE’s National Airline
The airline intends to use the Winding Tree blockchain platform to investigate possibilities that can broaden their client base and position Abu Dhabi as a unique travel destination.
- Delta Airlines
Blockchain technology is beginning to revolutionize supply chain management by providing a new way to track and manage inventory. With blockchain, each step is recorded in a digital ledger, providing transparency and accountability throughout the process. This can help prevent errors and delays and improve efficiencies across the entire supply chain.
- De Beers
These companies use IoT technologies built on the blockchain system to increase the transparency of their platforms:
- Commonwealth Bank
- Smart Electric Power Alliance
A blockchain is a digital ledger that records transactions in a secure and tamper-proof way. Once verified, the transaction is added to the blockchain and cannot be altered. This makes blockchain transactions highly secure and reliable.
Because of its potential ability to streamline processes and reduce costs, many businesses are already exploring the use of blockchain technology. Some major companies that have announced plans to adopt blockchain include IBM, Microsoft, and Facebook. While the widespread adoption of blockchain technology is still in its early stages, the interest from major public companies suggests that it could play a significant role in the business world for years to come.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.