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Top Global Companies Integrating Blockchain Technology Into Their Businesses

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Introduction

Blockchain as we know it is a disruptive technology that is revolutionising the way businesses work. Its unique properties can replace a lot of existing technology to run businesses. This will save a lot of time, money and efforts for companies and will increase transparency and accuracy. So do you really think the global companies that rule the world right now are not aware of this phenomenon? Well, they very much are. Top multinational and global companies are all over blockchain technology because of its unique advantages. A lot of businesses are already using this technology to make their processes more efficient, transparent and cost-effective. But in this article, let’s talk about those huge global companies that are effectively using blockchain to make their businesses better.

Diffusion Of Innovation Bell Curve

Image Credits – marketingwiz.co

These companies can be considered as Innovators and Early Adopters in the ‘Law of diffusion of innovation.’ That means these are the companies that want to gain the first mover advantage over the early and late majority.

Top global companies that have adopted blockchain technology

Microsoft

The fundamental of this global company is innovation, and it never failed to do that one thing right all the time. Microsoft’s founder Bill Gates has always been ahead of his time. His vision has made Microsoft the company it is today. Since the inception of Blockchain and Cryptocurrencies, Microsoft has been that one company that constantly had its eye on them. This company had started accepting Bitcoin payments for the products and services it provides even before the world knew about Bitcoin.

Microsoft also has about 40 patents entirely related to Blockchain technology. These patents are regarding the payment gateways that can be customized through blockchain. Secure storage systems are also being built by Microsoft more effectively with the help of this revolutionary technology. Within the organisation also, Microsoft has been using blockchain to make its work-place better. This company, in collaboration with Ethereum, is developing a suite of enterprise-grade blockchain tools by launching a Visual Studio development kit. This Visual Studio helps the programmers around the world in writing and compiling codes while they build different software, websites and apps.

Microsoft in May 2019, went a step ahead by launching its Azure Blockchain Services. It is a Microsoft in-house managed service which allows the management, governance and formation of consortium blockchain networks. This lets different businesses in developing and deploying their blockchain using ‘Stratis’ in Microsoft Azure. Azure is a cloud computing service designed and developed by Microsoft in early 2010. It is used for testing, deploying, managing, and building applications for Microsoft-managed data centres. This is an enterprise service which is making blockchain technology mainstream for businesses around the world. And since it is integrated with Azure Active Directory, which is a stabilized cloud computing network, companies can add new members, set permissions and monitor network health with ease.

Alibaba

This Chinese e-commerce giant has the highest number of patents (90) in the world concerning blockchain, and that explains the importance this company gives to this technology. Alibaba has integrated blockchain technology into its IP (intellectual property) system of global enterprises and brands. This is helping Alibaba to file intellectual property rights in a way more effective manner. This company is also planning to expand its blockchain usage to protect the digital copyrights of its visual content. This system will supposedly allow electronic deposits from global brands by directly linking the Internet Court through the blockchain based Ali IPP Platform (Intellectual Property Protection Platform). This provides a basis for companies doing business with Alibaba in protecting their litigation rights.

IBM

This American technology giant has about 89 blockchain patents and is standing second in the world concerning blockchain patent space. IBM is also one of the largest providers of blockchain related services to various other businesses. Companies can use IBM’s ‘Hyperledger’ tool to create their own Smart Contracts and distributed ledgers. This company has made strategic partnerships with multinational companies across the globe that deals with logistics & supply chain management in order to increase efficiency and reduce costs for them. Some of their major clients include retailer giants like Walmart. These retailers are using IBM’s blockchain services to make their supply chain extra secured to reduce the contamination of food. Also, centralized banks like Bank of Montreal, Bank of Switzerland and private banks like Commerzbank, CaixaBank have partnered with IBM to integrate their businesses with blockchain technology. These banks are using IBM services to develop a blockchain based trading finance platform known as Batavia.

MasterCard

This U.S. based global financial service corporation has major plans for building their own blockchain based payment gateways. MasterCard has filed more than 80 parents concerning this technology, which is the third largest in the world. ‘Top 100 Global Blockchain Patent Enterprise Ranking – 2018’ is a list released by IRP Daily’s and MasterCard is only behind Chinese multinational conglomerate ‘Alibaba’ and technology giant ‘IBM.’ This makes MasterCard a significant participant of impending patent war in the area of blockchain. The fundamental purpose of Cryptocurrencies like Bitcoin is to disrupt the payment processing services like VISA & MasterCard. So it is a smart move by MasterCard to adapt Blockchain technology for alternative and effective payments like Bitcoin.

Bottom Line

These are only a few of the numerous global companies that are utilising the blockchain to its maximum potential. More about those companies in the upcoming article. Please comment if you find this information useful and also mention if there are any local companies you know, that are using blockchain to make their businesses better. This will help the Ditto community and make Dittotrade a better place for learning. Cheers!

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