How do companies use blockchain

Blockchain applications go far beyond cryptocurrency and bitcoin. With its ability to create more transparency and fairness while also saving businesses time and money, the technology is impacting a variety of sectors in ways that range from how contracts are enforced to making government work more efficiently. We've rounded up 34 examples of real-world blockchain use cases for this pragmatic yet revolutionary technology. It's far from an exhaustive list, but they're already changing how we do business.

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Content:

• 5 applications for blockchain in your business
• Blockchain
• Innovative and Alternative Ways to Use Blockchain Technology in Your Startup
• Blockchain Is Changing How Companies Can Engage with Customers
• Blockchain’s potential for consumer products companies
• Top 5 Business Uses of Blockchain
• Blockchain’s Effect on Business
• How Blockchain Helps Everyday Business Owners
• 81 of top 100 companies use blockchain technology, Blockdata research shows
• Blockchain Implementation for Your Business

WATCH RELATED VIDEO: How Can a Blockchain Help Your Business?

5 applications for blockchain in your business

From just two companies — PayPal and Walt Disney — engaging in blockchain in , blockchain technology adoption has grown exponentially. Of the 81 companies, 65 are actively developing blockchain solutions, while 16 remain in a research phase.

Microsoft, Amazon, Tencent, Nvidia, J. Building blockchain infrastructure for multiple use cases that include finance or supply chain management has been a key trend. Many large private companies — not included in the report — are also leveraging blockchain. Chinese telecommunications provider Huawei said this week that its Huawei Cloud blockchain has been applied in more than 70 projects in seven major industries, helping companies to build enterprise-level blockchain industry applications quickly, efficiently and at low cost.

For example, the blockchain digital copyright service DCI facilitates digital copyright protection. Blockchain technology also makes it possible to trace the authenticity of tea and reduce counterfeiting. Blockdata found there are 30 different distributed ledger technologies DLTs that are currently being used by the top public companies.

The companies that received their investment funding are mainly focused on blockchain infrastructure, payments, enterprise services and other blockchain services. But while many of the top companies may be buying into blockchain technology, their stance toward one of the most high-profile use cases of the technology — cryptocurrencies — is more neutral.

Only 32 of the companies could be considered to have a positive stance on cryptocurrency. Lots of people are working on making sure that the core infrastructure, the underlying data utility, is going to be upgraded.

Michelle is a journalist at Forkast. Share on twitter Share on linkedin Share on facebook Share on telegram Share on whatsapp Share on line. Image: Blockdata. Blockchain technology maturing Of the 81 companies, 65 are actively developing blockchain solutions, while 16 remain in a research phase.

Author profile Michelle Lim Michelle is a journalist at Forkast. More articles on blockchain Opinion.

Blockchain

In a blockchain, there is no mechanism to correct it - people have to accept it. Everyone is talking about blockchain, the new technology in the FinTech Industry. The concept of blockchain has energized the financial services industry globally. The concept has already brought a disruption in the financial industry.

Innovative and Alternative Ways to Use Blockchain Technology in Your Startup

Blockchain continues to be a hot topic in the business world and news. Many people have heard of blockchain but may not be familiar with what it actually is. As a basic definition, blockchain is a data structure that enables the creation of a digital ledger of transactions and the ability to share them among a distributed network of computers. The core benefit of blockchain is that it builds trust between parties sharing information. The information shared is encrypted as an electronic list of records or blocks. It cannot be erased, which helps to ensure trust between users. Once information is recorded, it cannot be changed without changing all of the records, which also provides for secure transactions between users. Smart contracts help blockchain technology work. According to PwC, a smart contract is a digitally signed, computable agreement between two or more parties. A virtual third party, a software agent, can execute and enforce at least some of the terms of such agreements.

Blockchain Is Changing How Companies Can Engage with Customers

Think of a database with information stored in blocks. These blocks can be copied and replicated on individual computers. All of these are identical and synced with one another. When someone adds or subtracts data, it changes the information across them all. Each one is just as secure as your online banking portal — nearly unhackable.

Blockchain’s potential for consumer products companies

According to the report, blockchain has finally come of age. Blockchain may seem too nebulous to be applied to your business, but that changes now. With growing consumer privacy concerns, intricate global supply chains, and an infinite pool of sensitive data to manage, a tech solution with the potential to address all of these concerns could be the most important innovation of the decade. To be sure, there are still plenty of naysayers who claim that certain blockchain applications are only theoretical. Blockchain could be a solution to the woes of beleaguered industries like healthcare. Medical errors are the third leading cause of death in the United States — many of which are related to communications issues between providers.

Top 5 Business Uses of Blockchain

Everything that you need to know to start your own business. From business ideas to researching the competition. Practical and real-world advice on how to run your business — from managing employees to keeping the books. Our best expert advice on how to grow your business — from attracting new customers to keeping existing customers happy and having the capital to do it. Entrepreneurs and industry leaders share their best advice on how to take your company to the next level. With the recent initial public offering of cryptocurrency trading company Coinbase , blockchain technology took a giant step forward in public awareness.

Blockchain’s Effect on Business

From just two companies — PayPal and Walt Disney — engaging in blockchain in , blockchain technology adoption has grown exponentially. Of the 81 companies, 65 are actively developing blockchain solutions, while 16 remain in a research phase. Microsoft, Amazon, Tencent, Nvidia, J. Building blockchain infrastructure for multiple use cases that include finance or supply chain management has been a key trend.

How Blockchain Helps Everyday Business Owners

RELATED VIDEO: Real-Life Application of Blockchains in Business

Consider the case of Interac Corp. This case offers a few lessons for leaders: 1 tech like blockchain can transform sectors, 2 collaboration is an efficient way to experiment, 3 enterprise-wide engagement builds momentum for innovation, and 4 social purpose is a powerful driver of change. Changing how an organization conducts its core business — such as launching new services or reorganizing for greater efficiency — is really hard. During the first era of the internet, we saw the tremendous strain transformation placed on companies, industries, and entire economies. Yet, despite the obstacles, transformation is important for any company looking to survive and thrive in this era of digital disruption. While market forces may compel companies to transform themselves, disruptive technologies like blockchain and artificial intelligence provide a powerful catalyst for change.

81 of top 100 companies use blockchain technology, Blockdata research shows

Buy back shares, offer good premium, repeat. Can TCS give investors risk-free return this time, too? Better utilisation, profitability drive fleet owners to new trucks. Can CNG models push the envelope? Regulating ed-tech firms: will the much-needed guard rails choke innovation?

Blockchain Implementation for Your Business

Signing out of account, Standby Blockchain gives small businesses choice, privacy and protection. As small businesses seek efficiency and better ways of serving customers, blockchain can especially be useful for these companies as a way to conduct transactions and even raise capital.