Which Industrial Giants Are Already Key Players In Blockchain Development
The number of efficient solutions blockchain brought to modern industries is constantly growing with an exponential rate, and even without metrics, we can spot increased interest in distributed ledger technology by well-established industrial giants.
Obviously, top-shelf hi-tech firms have been enlightened by the new networking architecture among the first, investing time, and money in the early days of blockchain development, but in 2020, it is typical for a car company, a banking institution, or even a smartphone manufacturer to be involved in blockchain affairs one way or another.
In this article, we’ll take a look at some of the hottest private entities involved in the SLT sphere and analyze what interests them the most in the sector.
IBM Is The Blockchain Of Choice In The Private Sector
IBM should come as a natural when it comes to blockchain architecture, considering it is the company behind the first computer ever created, and the company that has patented the most blockchain-related patents on the globe at the same time.
While IBM has its own blockchain studio and a series of ready-to-go DLT solutions, it is actively involved in public and open-source projects such as Hyperledger, Stellar (XLM), and Hedera Hashgraph (HBAR).
IBM’s take on the subject is pretty straightforward. They understood the importance of personal computers, automation business systems – I mean, their brand name is literally International Business Machines – the importance of the internet, and once again, they now understand the importance of distributed ledger technology for the ever-moving progression of computer science.
IBM is behind many automation systems that interact with our everyday life, you know it or not. From cashiers to ticket issuers IBM data management systems have infiltrated modern markets by millions, and barely anyone notices.
Cloud services, biotech solutions, research, and development, you name it, and IBM is a global leader in the respective hi-tech sector, planning to stick to the title even during the blockchain era.
Creating blockchain interfaces where anyone can build his own blockchain, smart-contracts and/or dapps, IBM targets directly the private and corporate sector, offering ready-to-go and easy-to-customize solutions that could upscale businesses without the time and effort required to fully dive into blockchain principles.
Currently, IBM’s most popular blockchain solutions are tailored for the supply chain industry, which is among the first industrial sectors to realize the benefits of DLTs. With blockchain technology brands such as Walmart, Maersk, and Vodafone can track their supply chain and its components/products in real-time, while being able to access all sorts of information regarding each product’s status, authenticity, and history, all stored on the blockchain.
This strengthens data streams within a network of operations, eliminating costs and transaction times while making sure all files an/or contracts are accurate and immutable by third parties.
Once again, IBM’s goal is to be a global leader/provider of the accountable technology, and that goal is already achieved on a large scale, considering that IBM plays in the range of the likes of R3 and a couple of other analogous firms, where competition is tight, yet packed.
Besides all the corporate espionage sci-fi scenario components mentioned above, IBM is also involved in several public blockchain-powered projects including cryptocurrencies such as Stellar (XLM), and Hedera Hashgraph (HBAR), where it acts as a supporter, influencer, and observer altogether.
Samsung Brings Cryptos To Your Next Phones
The South Korean company you probably knew via its global range of smart hand-held devices (eg. smartphones, tablets. etc.), is also S. Korea’s largest private entity, one that produces most of the domestic consumer electronics, it is involved in local and international government affairs, and it even owns its own private army.
Samsung’s interest in blockchain started to publically grow ever since China announced a state-backed digital currency, the famous DC/EP we’re all anticipating for quite some time now.
Blockchain technology was widespread in South Korea among banking institutions and other financial services providers way before Samsung got involved, but when a titan on the level of Samsung enter the scene, we should expect some international attention.
Samsung had previously tested inbound smartphone cryptocurrency wallets on a domestic scale, and by the looks of it, the closed beta was successful, while the new addition will be available to all Samsung Galaxy S20 series owners, where one could buy, store, and exchange cryptocurrencies such as Bitcoin (BTC) directly through his phone.
This is a huge step, not only for cryptocurrencies but for the blockchain sector as a whole, with more cream companies expected to follow suit.
Toyota Tracks And Authenticates Car Parts Using Blockchain
The popular Japanese car manufacturer is part of a bigger organization called the Toyota Group, which recently announced the launch of the homonymous Blockchain Lab that researches and develops blockchain solutions tailored for the automobile industry.
The 83-year old industrial giant is already commercializing its in-house blockchain and seeks for partners in the automobile and DLT sectors respectively.
Toyota wants automobile manufacturers to use the network in order to track and monitor the relevant supply chain of car parts, as well as store, distribute, and issue documents and other financial contracts that could be utilized in a blockchain fashion.
Microsoft Has Its Own Blockchain Built On Azure
Microsoft blockchain solutions are based on the Azure network, which revolves around Cloud computing, IoT, and AI.
Offering solutions to both individuals and enterprises, Microsoft’s DLT services range between custom tokens, and file distribution systems, and it is a blockchain mostly used among Azure users who don’t want to overextend their working flow.
There isn’t much Microsoft’s blockchain can do that other enterprise-level blockchain providers can’t cover, but the fact here is that the company known for its Windows computer Operating System (OS) worldwide is now suddenly a big player in the blockchain.
Other important legal entities involved directly with the blockchain industry include but are not limited to the Dutch banking giant ING, Alibaba, Deutsche Telekom, Vodafone, JP Morgan, and more.
At the same time, many hi-tech influencers such as Apple and Google keep a distance from blockchain technology, due to the high relation between DLT networks and public cryptocurrencies considered a threat to the traditional economic system.
I’d say we don’t need no fancy companies to upscale blockchain technology to its true potential, but the fact that they’re all now jumping on the train should indicate that blockchain is already a big one.