Top Tech Companies Bullish on Blockchain
We have already turned the calendar on 2018, and as we dig into 2019, there is an illuminating ray that would perhaps spur a reversal from 2018 pits. After all, it won’t be controversial to say 2018 was pretty disastrous not only for the digital asset but for investors who got in mostly because of greed. The super gains of 2017 are quickly fading and replacing this excitement is the grim realization that like any investment, there are no quick riches.
Unsurprisingly, the deflation of the aggregate value of digital assets bred this perverse satisfaction from doom-mongers. While it’s hard for many to pick up revolutionary tech at early stages, we can other metrics reassure investors that the technology is here for the long haul: the increasing interest from mainstream companies on blockchain.
Underlying the spectacular boom of late 2017 and early 2018 was blockchain. Blockchain was—and continues to be– the base powering digital assets. As a digital, decentralized, open source and canonical ledger secured by cryptography, not only are government raving about how disruptive it would be, but megalith Wall Street corporations don’t want to be left behind.
These are three US companies leading the way in blockchain adoption:
There is something special about IBM, and although it lost its war against Apple and Microsoft, most banks use the company’s supercomputers for transaction processing. Over time it has gathered the necessary organizational assets, and according to the latest research by Juniper, 40 percent of companies planning to deploy blockchain do consider using IBM’s solutions. IBM has strong credentials because of their involvement in the development of Hyperledger Fabric (HLF), and apart from Alibaba, it has secured the second highest number of blockchain related patents.
Hyperledger Fabric is open source and hosted by the Linux Foundation. HLF main objective is to foster interoperability, and widespread use would cement its position as an enterprise level solution widely adopted by companies in different sectors keen on taking blockchain.
Aside from HLF, IBM offers Blockchain-as-a-service (BaaS), a platform that operates from the Hyperledger Fabric. This solution allows businesses to build private blockchains. WalMart’s Food Trust Solution use IBM BaaS to boost supply chain transparency and traceability.
Admittedly, Google has “failed to be on the bleeding edge” as far as blockchain is concerned. Unlike IBM which is ramping up placing itself at a strategic position, Google has collaborated with two start-ups–BlockApps and Digital Asset. The goal here is to allow businesses to explore different distributed ledger technologies and how best they can incorporate these solutions. Google is also making strides in availing Ethereum and Bitcoin data sets by making them “searchable” via BigQuerry. The company reckons that by making the already transparent data searchable, users can extract and draw meaningful insights from blockchain data.
Following IBM cue is Amazon, and there is interest the online retailer has on blockchain technology. Back in November 2018, the tech giant secured two patents relating to the creation of expandable data grids and those of cryptographic signatures. However, a stand out as far as their venture into space is their creation of blockchain templates compatible with IBM supported Hyperledger Fabric and Vitalik’s Ethereum.
These templates–which allow customers to dApps without the need of setting up private networks–are offered via their Amazon Web Services which happen to host servers of different crypto exchanges including CoinBase, Coinone, and UpBit. Amazon has also partnered with Kaleido and banking consortium, R3 allowing deployment of Corda on the Amazon Web Service platform.
Given the benefits of the blockchain, big guns cannot sit on the sidelines and watch their market share shrink. In a market that is estimated to hit $7 billion in a few years, there is too much at stake, and these three US firms are leading the way. No doubt as the nascent sector heats up; we expect to see the so-called “war of talent” where rigid big tech struggle to retain top talent keen on shifting houses to crypto start-ups with big ambitions.