Shell, Nasdaq among big players taking notice of blockchain potential
Several well-established, non-blockchain companies are taking notice of the technology. They are either making investments in blockchain firms or integrating the technology as part of their operations. Leading the way is the Royal Dutch Shell Plc Class A (AMS:RDSA), which has recently made its first investment in a UK-based blockchain startup.
Last January 2018, Shell has taken a minority share in Applied Blockchain Ltd to find ways for the system to be integrated into the oil giant’s business operations. It is a fintech accelerator firm that is also engaged in developing distributed ledger and smart contracts tech applications.
Shell did not reveal the amount of its investment but it was made together with Calibrate Partners, a venture capital investment management and fintech firm based in London.
Among the various projects of Applied Blockchain is the drone registry system for the telecom, Sita, which is servicing the largest airlines in the world. It is also collaborating with another fintech startup Babb in developing a banking system based on the platform.
Blockchain integration
Other international companies are taking the direct route. Instead of simply investing in other businesses, some of these big corporations are integrating the technology in their operations such as in the case of NASDAQ. It is one of the first financial institutions that integrated blockchain in private securities transactions. It launched its own ledger platform known as Ling Blockchain for this purpose.
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Tech giant IBM is among the computer and electronics corporations that have recently harnessed the power of the new platform. It has developed a cloud system using the platform to provide services to more than 400 clients in various business sectors. IBM provides blockchain-as-a-service or BaaS. The system is used for tracking and recording complex transactions in secure networks.
Hitachi is another tech corp that seemingly has no connection to blockchain. However, it is actually a pioneer in this area, having earned its first patent in the blockchain system in 2003. It uses this to facilitate financial transactions across various systems. These include smart contracts that are legally binding.
Corporations are not the only ones interested in the technology but also government institutions. For instance, Sierra Leone is the first country that recently used the technology in a national election. Last March 7, 2018, Agora Holdings, Inc. (OTCMKTS:AGHI) used the platform to audit the results of the presidential election in the country.
Aiding blockchain investments
Meanwhile, businesses like Global Blockchain Technologies (OTCMKTS:BLKCF, TSXV:BLOC), BitHub.Africa and Coin Apex provide the assistance that these startups need. BLOC plays an important role in bridging the gaps between kickstarters and potential investors. It helps startups in finding capital, training the pioneer team and providing legal support. As an incubator, BLOC assists new companies in developing viable products that can be offered in ICOs.
Seeking a balance between stability and growth by providing investors access to various crypto assets, BLOC’s blue-chip holdings are balanced by its smaller-cap holdings. As industry pioneers, BLOC’s management team ensures the long-term viability of both the startups and the investments.
Meanwhile, BitHub is an accelerator that provides the boost in the adoption of the technology in various industries across the African continent and the Middle East. Its main focus is helping startups in providing technological innovations and solutions in the areas of law and government, data management, agricultural and financial services.
The company provides consulting services for various private and government organizations that are interested in using the platform. It also provides training to developers and entrepreneurs.
Another blockchain-related firm is Coin Apex, an accelerator company that also has various venture partnerships with others in the industry. It has a stake in Coin.co, which is a platform that offers Bitcoin payment process. It is also working with Blockwork, a trading application for trading crypto assets across multiple exchanges. Its main mission is to help other blockchain companies to succeed in the industry.
The trend of adopting the platform is likely to continue as the demand for integration, transparency and security becomes stronger. The system will significantly simplify transactions and will also reduce the costs. The long-term implications are enormous.
