Welcome to the blockchain world, where distributed ledger technology is changing how businesses operate. Over the past few years, blockchain technology has become popular, and companies from various industries have embraced its potential. Blockchain is a distributed ledger that allows for secure and transparent transactions, making it a valuable tool for businesses. Here, we will explore ten examples of companies using blockchain, showcasing the versatility and applicability of this revolutionary technology.
So, please sit back, relax, and join us on a journey through the exciting world of blockchain technology.
Top 10 Companies using Blockchain
Adobe announced that it would be offering support for two new blockchains, Solana and Polygon, on its art platform, Behance.
This move aimed to offer NFTs on the platform to users. Adobe added these blockchains to its list because of their resilience.
Adobe has also taken measures to combat fake NFTs with its ‘Content Authenticity Initiative.’
The Content Authenticity Initiative aims to validate digital artwork’s authenticity and combat copyright infringement or duplication. The company has already collaborated with popular NFT marketplaces like OpenSea, SuperRare, and Rarible.
Through this initiative, Adobe offers creators a way to authenticate their artwork by attaching their digital signature to their NFTs. This process adds credibility to the NFT marketplace. Moreover, it creates a more secure and trustworthy environment for creators and collectors alike.
Alphabet, the parent company of Google, started incorporating blockchain technology into its core products.
Alphabet’s focus on blockchain is part of its strategy to stay ahead of the technology curve and explore new applications. The company is examining how this technology can enhance the performance of its major products like YouTube and Google Maps by integrating them with blockchain-based computational layers.
Also, Alphabet is exploring how its cloud team can utilize blockchain-based systems to cater to consumers’ evolving expectations. As more users demand data privacy and security, blockchain can be essential to meet these requirements.
Amazon announced a new service called ‘Amazon Managed Blockchain.’
It falls under the Blockchain-as-a-Service category designed to cater to businesses seeking to incorporate blockchain technology into their operations.
This innovative service provides an all-inclusive solution for developing and managing blockchain networks using open-source frameworks. The service currently supports the Hyperledger Fabric open-source framework. It is one of the most widely-used and highly-regarded frameworks within the industry.
Amazon Managed Blockchain allows enterprises to benefit from the blockchain without significant investment in infrastructure or in-house blockchain expertise. Amazon provides a fully-managed solution that can be easily customized to meet specific business needs. Thus by utilizing this service, companies can reduce the complexity and overhead of setting up and managing a blockchain network.
By offering Blockchain-as-a-Service, Amazon is helping to democratize access to the technology, making it more accessible to companies of all sizes and across various industries.
Apple planned to introduce a feature for cryptocurrency payments that will enable users to pay for transactions using their iPhones through “Tap to Pay.”
This feature will be available for owners of iPhone models XS and higher, who can complete all their transactions wirelessly using near-field communication (NFC) technology. In other words, users will not need to use additional hardware or payment gateways for the transactions.
Apart from Apple Pay, other digital wallets and contactless credit and debit cards will also be able to conduct transactions using this feature.
This development will make crypto transactions more mainstream and accessible, potentially boosting adoption rates.
5. Bank of America
Bank of America (BofA) is making significant strides in the blockchain industry, offering its clients access to a global payments platform and a wealth of blockchain expertise.
The bank’s commitment to digital innovation is evident in its publication of a comprehensive digital asset research report titled ‘Digital Assets Primer: Only the first inning.’
This report provides investors with a framework for navigating the rapidly evolving digital asset landscape.
Despite its enthusiasm for blockchain, BofA’s CEO revealed in August 2022 that the bank currently does not have permission to engage in cryptocurrencies due to regulatory constraints.
Despite this regulatory limitation, BofA’s continued investment in blockchain technology and its commitment to providing innovative solutions to its clients underscores the growing importance of blockchain in the financial industry.
McDonald’s submitted ten trademark applications indicating its intention to provide a range of digital products, including virtual restaurants. This move signifies the fast food giant’s foray into Web 3.0 technologies, with plans to leverage digital solutions to enhance its customer experience.
McDonald’s has also reportedly created ten unique non-fungible tokens (NFTs). It is not yet clear how McDonald’s plans to use these NFTs. But it is likely that they will play a role in the company’s broader digital strategy.
By embracing the potential of NFTs, McDonald’s is looking to stay ahead of the curve and meet the evolving needs of its customers.
To improve healthcare outcomes, NHS Wales and Roche Diagnostics partnered with Digipharm in to leverage its blockchain platform. This platform is designed to improve healthcare efficiency and patient outcomes by reducing wait times, and enabling faster diagnostic services.
The Digipharm platform will help streamline processes, ensuring patients receive the best possible care in the shortest possible time. This will be achieved by creating a more efficient and transparent payment structure for healthcare services.
The platform will also enable the secure sharing of health data between patients, providers, and payers, facilitating more informed decision-making and improving overall health outcomes.
SAP and Unilever, two global leaders in technology and consumer goods, respectively, joined forces in March 2022 to launch a blockchain pilot called ‘GreenToken.’
The pilot program aims to increase traceability and transparency in Unilever’s global palm oil supply chain.
Palm oil is widely used in many consumer products, from food to cosmetics. Still, its production has been scrutinized for its environmental impact and concerns around human rights violations.
The GreenToken blockchain pilot aims to address these issues by providing a secure and transparent platform for tracking the entire palm oil supply chain, from plantation to end product.
By leveraging blockchain, the GreenToken pilot will enable Unilever and its suppliers to provide real-time information on palm oil production, including the location of the plantation, the date of harvest, and the transport route to the processing facility.
This increased transparency will help to identify and mitigate any potential issues in the supply chain, such as deforestation or labor abuses.
9. Tata Consultancy Services
Tata Consultancy Services (TCS), a leading IT services and consulting company, announced its plan to explore the blockchain and metaverse space by launching several projects.
One of the projects is a virtual bank that will enable retail transactions in the metaverse. This virtual bank is expected to offer seamless transactions within the metaverse, just like any physical bank in the real world.
Another project TCS is working on is an NFT marketplace, which will be built using the company’s blockchain solution. This NFT marketplace will allow users to buy, sell, and trade NFTs within the metaverse.
TCS’s NFT marketplace aims to provide a safe and secure platform for users to transact in the metaverse.
In early 2022, Walmart Canada made use of blockchain technology to enhance its supply chain management.
As a result, the company was able to significantly decrease disputed invoices from 70% to just 1% and lessen the manual work required for payables and receivables. This new blockchain solution also facilitated prompt payments for carriers.
Before this development, in December 2021, Walmart applied for multiple trademarks associated with blockchain, its digital currency, non-fungible tokens (NFTs), and the metaverse.
By leveraging these emerging technologies, Walmart is poised to increase efficiency, transparency, and accountability across its business operations, ultimately delivering a better customer experience.
Also, this move may significantly impact the retail industry. Other organizations may follow Walmart’s lead in exploring the potential of blockchain, crypto, and NFTs to improve their business practices.
The examples highlighted in this discussion illustrate how blockchain is used to improve transparency, enhance security, and streamline processes.
Companies from Adobe to Walmart recognize blockchain’s value in enhancing customer experience and operational efficiency.
As more companies continue to explore the possibilities of blockchain, we can expect to see even more innovative applications of this technology shortly.