The Biggest Brands That Are Utilizing Blockchain
This blog post originally appeared on Luca Fury's website.
Blockchain technology is now permeating traditional business. Benefits to logistics and digital transactions can no longer be ignored. Several established companies have begun blockchains projects. IBM, LG, Kodak, Oracle, and Amazon are leading enterprise solutions for blockchains. These companies differ from the initial development in this space. Instead of focusing on individuals, they focus on corporate issues.
With that in mind, let us examine some of the more granular details of each company’s efforts.
IBM is probably the most respected company that has begun embracing blockchain. It is taking serious strides towards incorporating blockchain technology for its cloud operations. IBM’s new project provides an enterprise solution for carbon credit transactions. The token, which runs on the Stellar protocol, would bring blockchain to the center stage of business.
LG is another well-known brand, though its logistical interest in blockchains is diversified. The name of the project, Monachain, is developed by LG’s CNS. This initiative plans to improve logistics for manufacturing and finance, as well as communications. Monachain’s impact potential is considered greater than the attention currently being given. One reason is that of the application for government financial transactions. Monachain’s blockchain innovation for identities is also promising.
Unlike the other companies on this list, Kodak targets its blockchain project for individuals. Known as KODAKOne, the platform serves as a facilitator for independent efforts in the field of digital art. Furthermore, the platform also functions as a bridge between individuals and enterprise clients.
Oracle was one of the first companies to use the Hyperledger Fabric project. Its blockchain development advances cloud services. Oracle preceded IBM’s entrance into this space and, since their blockchain aims are so similar, it is likely that Oracle inspired the IBM initiative.
With IBM’s promised blockchain success, Amazon responded by recently unveiled its own. AWS Blockchain Templatesis for open source frameworks. It commits to making blockchain networks fast and easy.
Like most successful blockchains, each of these projects represents a solution for the real-world. Investors in this space have become better at discerning legitimate new platforms. As such, there are even several efforts toward automation to assist investors in determining which are scams or poorly being developed. Globally, China made a lot of headlines in Bitcoin mining. Its active engagement into similar enterprise blockchain solutions is of no surprise. Corporations from around the world are expected to quickly enter this space in the coming years.