6 major companies that went blockchain in 2018
Who are the biggest companies to take the lead in the race to blockchain?
While companies of all sizes are now testing the ways in which blockchain may be beneficial to them, most of us are looking to see what steps will be taken by the corporate giants. Throughout 2018 we’ve seen industry leaders continue to develop blockchain projects, while new ones cautiously followed suit.
Here are some of the biggest players to delve into blockchain during 2018:
1. Walmart
The American conglomerate has announced it is going to require all its fresh leafy greens suppliers to start using an IBM-based blockchain by January 31, 2019, and its other suppliers by September 2019. By switching to blockchain technology, Walmart aims to be able to trace its produce supply chain all the way back to their farm stage, allowing the company to quickly identify the exact location of produce and condition of the shipments (e.g temperature, humidity) in case of a large outbreak such as E.coli or Salmonella.
2. Finastra
The world’s 3rd largest financial technology company in the world, Finastra, has announced that its blockchain lending platform Fusion LenderComm is now live after completing a successful pilot. The software automates the sharing of syndicated loans data between loan agents and participants, replacing faxes and emails. The solution is now available as an app on R3’s Corda platform as a low-cost service for financial services institutions acting as agent banks.
3. Telefónica
One of the largest telecommunications companies in the world, Telefónica, has announced it is partnering with IBM to implement blockchain technology to streamline core business processes. The company is hoping to improve the reliability and transparency of information collected by different networks when routing international calls, making it easier of all parties involved to collaborate.
4. Kakao
Earlier this month, South Korean messaging giant Kakao announced it has entered an investment partnership with Israeli hybrid blockchain project Orbs. The investment builds on Orbs’ existing partnership with Kakao’s own blockchain subsidiary Ground X, on which the company launched its own blockchain platform named Klaytn just months ago. As part of the partnership, the two companies agreed to partner on blockchain applications, research and development projects. The platform uses a hybrid approach of both consensus nodes (CNs) and ranger nodes (RNs) allowing for scalability and a throughput of up to 1,500 transactions per second.
5. JD.com
China’s largest retailer, JD.com, has launched a new blockchain technology platform for its enterprise customers. The platform is meant to help the customers of the e-commerce giant build, host and use blockchain applications without having to build everything themselves. The BaaS (blockchain-as-a-service) platform comes ready with an app store full of tools and bottom layers developed in-house assuring a fast and easy deployment.
6. The Agricultural Bank of China (ABC)
The Agricultural Bank of China (ABC), the 3rd largest bank in the world, used a blockchain system to complete the issuance of a farming-based loan worth $300,000. ABC reportedly used blockchain technology to streamline real-time updates of borrower information as well as to assure transparency and faster approval time.
