The number of billion dollar companies using blockchain is increasing, according to the financial outlet Forbes and its recent report which made the latest cryptocurrency news on our site.
The blockchain news show multiple billion dollar companies using blockchain and businesses that are actively implementing the blockchain technology. What’s interesting is that Forbes listed only the ones which have minimum revenues or valuations that go from $1 billion upwards, naming them “Blockchain’s Billion Dollar Babies.”
In addition to traditional financial firms such as banks and clearing houses, food companies, supply chain management firms and others, Forbes also featured companies that are active in the cryptocurrency and blockchain space.
For those of you who are wondering, the big companies using blockchain include the names of Amazon, Walmart, Facebook, ING, MasterCard, Microsoft and Nestle as only some of the names.
The news went viral on many best cryptocurrency news sites, mostly because of the big names in the industry. The crypto-related companies featured in the “Blockchain’s Billion Dollar Babies” list included the names of the leading exchange Coinbase, the European mining and hardware firm BitFury as well as the blockchain-based financial services network and XRP token issuer Ripple.
Aside from the full list of billion dollar worth companies using blockchain, Forbes has also noted major firms that are in negotiations or talks to adopt blockchain technology – as well as companies which use blockchain protocols only. Some of these include Hyperledger protocols, blockchain consortium R3’s Corda protocol as well as the Ethereum network as featured in the list of firms in various industries.
Forbes has noted that the potential for blockchain technology is big now, and the main aim is to simplify the various business processes, following the example of the Depository Trust & Clearing Corp (DTCC) which keeps records of 90 million transactions recorded per day, or the record high $48 trillion dollars in securities.
According to Forbes, the firm will supposedly start switching its 50,000 accounts to a blockchain-based system which will definitely help and eliminate duplicate procedures as well as reconciliations that are still prone to happen when linked to traditional electronic clearing networks.
For all of you interested to see the Forbes “Blockchain’s Billion Dollar Babies” report , visit this link.
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