Corporations are investing more and more into blockchain technology at an exponentially increasing pace.
Many large companies such as Walmart and Apple have already announced some blockchain-related news. They’re trying to improve their profit margins, efficiency, and services by using distributed ledgers based on blockchain tech. As more companies jump into the fray, it’s only a domino effect as others need to compete to maintain their industry.
Competitors become aware of blockchain protocols that save cash, eliminate jobs and divisions, and save time. Corporations may choose to assimilate existing blockchains or even create their own permission blockchains. This will only give more exposure to the crytpo industry to solve real problems.
The Global 2000 list from Forbes ranks the largest publically-traded companies from 60 countries globally. All 10 of the biggest companies in the world are investing in blockchain tech:
- Industrial and Commercial Bank of China (organizing company data)
- China Construction Bank Corporation (improve efficiency between banks and insurance companies)
- JP Morgan Chase (cross-border payments)
- Berkshire Hathaway (improve supply logistics)
- Agricultural Bank of China (offer unsecured loans)
- Bank of America (storage system to automate data verification)
- Wells Fargo (increase speed of cross-border payments)
- Apple (security)
- Bank of China (compress transactions)
- Ping An Insurance (financial markets)
We expect more companies to jump in order to compete. If one does it, everyone else has to in order to maintain their profit margins.
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