Blockchain is gaining momentum as a tool for global business management, which has led to many new companies popping up and integrating both bitcoin and blockchain. The below-mentioned portion looks at the top five companies that incur the bitcoin and blockchain ecosystem. Trade Bitcoin in the most trusted platform if you are interested to invest in Bitcoin. The withdrawals on this platform are quick with extraordinary security. Blockchain-enabled smart contracts make it possible to track product quality changes, correct them if they occur, and increase accountability among all parties on the production line.
Walmart:
This giant of the retail world has been looking into the potential of blockchain technology to better track and manage its supply chain. As a result, the company recently announced it would develop a blockchain-based food safety system to benefit numerous global suppliers and customers.
Walmart has also partnered with IBM in a pilot program to track pork and beef production from farm to plate. The project will be based on IBM’s blockchain-based supply chain management system, Food Trust.
NVidia:
NVidia recently became a featured sponsor at the Money 20/20 event, announcing their partnership with Chain Inc., which brings blockchain technology into our daily lives. The company intends to use its next-generation GPU architecture, Volta, for scientists and researchers to run large data sets on the bitcoin blockchain by harnessing its computational capabilities. NVidia hopes this will lead to new applications of digital technology, such as AI, machine learning, and neural networks.
IBM:
The US tech giant IBM has been looking into blockchain technology since 2015 to streamline its supply chain management system. Through their partnership with Maecenas, they are developing a new platform “to help ensure that all art on the blockchain is authentic.” Last year, IBM announced a blockchain solution that provides food retailers comprehensive and accurate data regarding their products’ origin, safety, and authenticity. This data is available to both consumers and suppliers.
The company also signed deals with major industry players, including Hong Kong and Rotterdam ports, to build a blockchain platform for supply chains. The blockchain is an essential component that ensures the transparency of information provided by all parties in logistics management. Companies are investing in this technology because its ability to track transactions can reduce operating costs and increase efficiency throughout the entire supply chain at each stage of the production process.
Accenture:
The Accenture consulting firm operates in over 130 countries, with subsidiaries focusing on technology and consulting. In partnership with SIRIN LABS, it is developing a platform for decentralized identity management systems. The project aims to enable people to control their data and grant access to services or approve transactions by submitting a single signature.
It would improve the process of electronic commerce around the world, aiding companies in their quest to stay relevant during a time when new technologies are threatening to disrupt their business model.
The company recently partnered with QTUM, which works as a decentralized blockchain network with bitcoin-like functions such as smart contracts and payments. In addition, QTUM has recently partnered with payments start-up Ripple to provide the latter’s digital currency XRP, within QTUM’s blockchain network.
Microsoft:
The American software company Microsoft is a pioneer in applying blockchain technology to its business model. It uses technology to track the status of millions of packages daily. The number of packages successfully tracked by their system is now over 1 million per day, and they plan to use the same technology for their consumer products. Moreover, Xbox online store correspondingly accepts bitcoin payments.
One of their recent collaborations involves automatically adding data to the blockchain without requiring human interaction. The new solution allows data scientists and developers working on AI projects to easily share code, with automatic data integration coming soon.
PayPal for bitcoin payments:
PayPal was one of the first to incorporate bitcoin payments into their platform. However, the company has since halted bitcoin payments, dropping off the list of top ten companies that attract bitcoin and blockchain ecosystem.
Due to the recent increase in price, it seems that everyone wants some bitcoin. Unfortunately, due to this demand increase, there has also been a steep rise in bitcoin’s value. As a result, there is a high risk of running out of bitcoin if everyone wants some right now.
Due to the high concentration in bitcoin and other cryptocurrencies, every company will likely want to hire blockchain experts as quickly as possible. Therefore, it is unlikely that the price will drop overnight, but another wave of bad news could spark another drop. Blockchain technology is beginning to attract more attention from companies worldwide due to its low costs and increased efficiency in tracking packages and other digital products throughout their manufacturing process.
