How Bullish Should Bitcoin Investors Be with Forbes Blockchain 50 List of Powerhouse Companies?

By April 18, 2019 Bitcoin Business
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As per an all-new report released by Forbes earlier today, big-name players such as Amazon, Walmart, Ripple, have all developed a host of blockchain based tools to help the global dev community propagate the use of DLT (distributed ledger technology).

While cryptocurrency is struggling to achieve mainstream adoption, these #Blockchain50 companies are committing manpower and capital to build the future on top of shared databases: https://t.co/CwhWbC4L0z by @DelRayMan pic.twitter.com/J3RItmI8yI

— Forbes Crypto (@ForbesCrypto) April 17, 2019

Some Examples of Firms Using Blockchain-Driven Governance Tools:

(i) Anheuser-Busch: The brewing firm is known to make use of a blockchain module within its vending machines so as to digitally verify whether a customer is old enough to drink or not.

(ii) Ant Financial: The fintech firm has been making use of blockchain tech. so as to track its products that are being distributed via online retailers such as Alibaba.

(iii) Ripple: As many of our regular readers may already know, crypto giant Ripple has initiated a number of blockchain based projects in the past to help in the movement of large sums of money (across international borders).

(iv) Foxconn: One of the largest distributors of electronic equipment in the world, Foxconn too makes use of a blockchain-based governance system to help streamline its inventory management processes (as well as reduce its physical paperwork to a large degree). In addition to all this, the company has also made strategic investments in a number of other blockchains/crypto related organizations such as Abra, Galaxy Digital, etc.

More On The Matter

Over the course of the past 18-24 months, blockchain adoption has increased quite significantly across the globe — especially within domains where large supply-chains need to be administered in real-time. This is mainly because, blockchain allows for the “instantaneous distribution of real-time tx data” as well as streamlines many of the

“identity authentication protocols that are being used by various organizations these days”.

With this data in mind, it should come as no surprise that Walmart has also been included in Forbes’ aforementioned top-50 list, especially since the corporate giant took large-scale adoption measures to incorporate blockchain technology into its “internal governance protocols” last year.

Lastly, in relation to all of these developments, Orbs CEO, Tal Kol, was quoted as saying that as blockchain technology becomes more and more scalable, newer industries (such as the automotive sector) will start to make use of this offering.

“The shift toward self-driving cars means data accuracy and data security are more important on the road than at any time in human history. Securing that information and making sure fleets or individual vehicles run smoothly will be critical. Even if not battling malicious actors, blockchain can protect and certify information from unintended alterations. It is only a matter of time before blockchain completely encapsulates the automotive world.”

Final Take

In closing out this piece, it should be pointed out that owing to use of blockchain driven distribution systems, supermarket Carrefour has been able to reduce its native tx workload massively — so much so that the firm recently disclosed its plans to cut down on nearly 1,500 jobs (in the coming few months).

  • The firm currently tracks around 20 out of its 300 brand-name products through the use of DLT (with company representatives claiming that 40 more items will be added to this list shortly).
  • At press time, Carrefour’s DLT platform is being used across six different nations globally.

    Lastly, it should be mentioned that in recent times, blockchain solutions have also begun to seep into a number of other areas where people have had to conventionally perform actions such as:

  • Verify transactions manually
  • Generate paperwork for shipments, payments and deliverables

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