23 Nov, 2022
10 minutes
While today’s world has stepped way past the advent of cryptocurrencies, the rest of the technological capabilities of blockchain increasingly often attract businesses from small to corporate. Among many improvements, blockchain tech brings in augmented transparency and integrity of data—the potential from which supply chains of all levels can benefit. Another area of application involves minting and marketing NFTs; these are extensively used as a basis for promotional and loyalty programs suitable both for corporate workers and customers. Of course, the potential of making the most from the tech directly depends on what company uses blockchain. While it is clear that financial institutions enjoy the advantage, companies in other sectors may surprise you with how well their interests merge with decentratech applications. And everyone can refer to stats on an exchange platform like Exolix to witness the high demand investors create for certain currencies after they make an appearance in collaborative business projects. But what are the major names in this ever-growing group of top companies that use blockchain? Read on to learn more.
Easily the leading player in the area worldwide logistics, FedEx processes amounts of cargo worth billions of dollars on yearly basis. Considering the nearly bottomless depth to their management architecture, it’s all the more impressive how they have made good implementing decentralized capabilities corporation-wide. Nowadays, the FedEx supply chain is being tested and further developed in track precious cargo, with a view to extending it functionally to cover the entirety of shipments. Furthermore, they are also known for influencing the blockchain industry standards by providing valuable real-world application data and system evolution insights.
In the field of big companies that use blockchain, BofA has long become an essential player providing private and business clients with a payment platform and blockchain know-how on the global scale. This institution is deeply involved in ameliorating and re-working the landscape of digital currencies, making it possible for game-changing investments to find their bearings in the unstable sea of whimsical rates and sky-rocketing assets. BofA has patented hundreds of items on blockchain, and even though the bank itself does not deal in crypto due to the crypto regulations, they pose as strong advocates of Bitcoin and the kind. According to their CEO, the chain generates real cash flows by:
...which certainly won’t go anywhere in the near future.
As many of you know, back in 2018, Mastercard has won the third place in the global ranking of enterprise blockchain patents with their impressive portfolio of 80 patent filings. To date, this giant of a payment system remains one of the most progressive innovators in employing decentralized subnets that allow funneling data from multiple blocks in the chain. Subnets will organize large networks in smart nimble chunks. This will enable processing and storage of virtually any amount of data without having to follow standardization practices.
Another emerging giant in the decentratech space is IBM, who is greatly invested in supplying blockchain-based solutions to commercial enterprises. Their Hyperledger Creator is a mighty implement that enables organization with the capacities to install their own system operating on smart contracts. This technological cooperation spreads far and wide, powering up the logistics, cost handling, and internal management efficiency of many multinational companies, including networks of hypermarkets like Walmart and financial powerhouses like CaixaBank. In what come to their contribution to Walmart, IBM’s software has already reshaped the supply chain, improving the control over contaminants and sanitary processes.
One of the sectors relying heavily on blockchains is, unsurprisingly, energetics. What has initially grown to be a major consumer of the world’s energy resources, is now helping us to save and optimize the usage, and few companies know more about this than Siemens. They are a great example of what companies use blockchain technology for: sustainable power generation, shift to green energy, responsible consumption.
No area of human activity is as sensitive to timely deliveries and proper handling as food production, and blockchain is here to save your bacon. Carrefour makes top 3 of food makers that pride themselves on being technologically savvy enough to implement decentralized networks in tracking their produce. When it comes to what you serve to your dinner table, nothing quite beats freshness, and that is why many customers are willing to place trust in Carrefour. Thanks to blockchain, all of their clients are now able to scan a QR code and learn about the date and place of harvesting, risk of pesticide content, nutritious value, etc.
Ford is famous for pioneering many cool gizmos, with decentratech making no exception. In fact, IBM is one of their major companions, as the two of them hope to improve tracking raw manufacture materials (e.g. cobalt) directly from sources. This pursuit is meant to ensure the highest quality supplies, and the automobile concern strives to implement ledgers for maintaining spotless logistics.
Surely, we all expect to find a cryptocurrency exchange among companies that use blockchain technology, but Coinbase is more than just that. Being an unrivaled web resource where hundreds of millions of users convert their assets, this company went a step further in transparency and sefaty when in 2021 it turned public. Similarly to Exolix that allows users to swap a profound assortment of coins at competitive rates, Coinbase provides that and much more, including a personalized debit card and a variety of crypto wallets.
Considering their unsurpassed knack in handling digital inventories, blockchains come as real tugboats for any such huge organization as Pfizer. With millions of biomedical records and pharmaceutical product entries on board, all the flagships in the industry, such as AstraZeneca, Merck, and GlaxoSmithKline, should join Pfizer in their decentralized ventures, if they already haven’t done so.
Just on the beginning of this summer, L'Oréal proclaimed partnership with certain blockchain developer teams of no small importance. The Sandbox metaverse and POC are well known for their effort to diversify Web3—and this alliance with the cosmetics industry leader is meant to enrich the modern interactive space of Internet with a set of avatars. These will represent characters of different ethnicity, sexual orientation, and gender, and undoubtedly earn their place in the top-tier NFT market.
Compared to legacy data management systems, a corporate decentralized network is potentially capable of: -Making intermediaries obsolete, e.g. aggregators, external channels, accounting departments; -Uncluttering the data processing systems and arranging for clearer and significantly more efficient communication between parties; -Opening new opportunities for extending the system without the need for rigid standardization.
Mainly, banks can reinforce their retail chains against fraudulent activities, improve KYC and ID recognition, make across-border online payments more secure, and enhance customer data-based risk evaluation.
Decentratech augments the retail sector with in-depth tracking applied in the supply chain. In other words, the retailer has a chance to monitor virtually all the events within the chain by gleaning a plethora of data, including the owner, place of occurrence, product shelf-life and condition, as well as other crucial shipment details.
The data blocks in a blockchain possess immutability, which allows the retailer keep track of in-depth customer profile info. This includes precise payment history, the received crypto reward points, transactions details etc. With further advent of this technology, processing client touchpoints flexibly, in real-time becomes more and more a real capability.
