Forbes starting blockchain top 50 companies list

Summary:

Forbes, the leading business magazine, recently released its first list of the top 50 global blockchain companies.

The cryptocurrency may be experiencing severe winters. However, the basic technology of Bitcoin can also generate new commercial applications. For these commercial applications, early spring has arrived.

According to the sharing of financial news, the famous business magazine "Forbes" (Forbes) recently released a list of the top 50 global blockchain companies, most of which are listed as large enterprises, while Chinese companies have ants Jinfu and Foxconn selected.

It is worth noting that Forbes' annual list of billionaires is closely watched around the world. On a global scale, the status of the Forbes Rich List is unquestionable.

This year, Forbes compiled the list of the top 50 companies in the blockchain industry for the first time. Forbes's eyes once again focus on the blockchain field, and the growing influence of blockchain technology is evident.

Background: Blockchain applications are imminent

As the birthplace of the CBD, the Manhattan Bay area of ​​New York is located between the Hudson River and the East River in the eastern United States, and has a reputation as the “Financial Bay”. On the Hudson River, the American Depository Trust and Clearing Corporation (DTCC) is located here.

However, few people know that most of the world's securities records are concentrated here, from stocks and bonds to mutual funds and derivatives, with assets worth $48 trillion.

At DTCC, nearly 100 million transactions need to be processed every day. A few decades ago, it was all done on paper, and although it is stored electronically on the agency's servers, it still suffers from countless repetitive procedures and the burden of reconciliation between members.

But in the next few months, the situation may be different.

DTCC will expand the application of large-scale blockchain technology. About 50,000 accounts were recorded in DTCC's transaction information warehouse, storing $10 trillion in credit derivatives information, which will be transferred to a distributed ledger called AxCore.

This means that, very quickly, everyone can access a real-time trading account and no longer need to repeat the operation.

At the same time, retail giant Walmart is not far behind.

Wal-Mart is currently using blockchain technology to track the goods of its suppliers and reduce the risk of food spoilage and pollution.

Even more surprising is that this giant in the retail industry has submitted 50 patents related to blockchain technology.

Having said that, we have to think of the legendary Foxconn Group in China, because the world's largest electronics supplier has also been included in the Blockchain 50 list.

Foxconn has established Blockchain Finance in Shanghai, allowing Foxconn suppliers and other suppliers to use blockchain technology for payments, providing real-time financing and streamlining supply chain processes, reducing many of the tedious paperwork.

In addition, the Taiwan-based company has invested more than $40 million in a number of blockchain and cryptocurrency-related companies, including Abra, Galaxy Digital, Cambridge Blockchain and Digital Currency Group.

According to the International Data Corporation (IDC) report, government and blockchain companies are expected to spend a total of $2.9 billion in 2019, an increase of 89% over the previous year, and by 2022 the figure will reach $12.4 billion.

PricewaterhouseCoopers surveyed 600 executives last year, with 84% of executives saying their company is related to the blockchain.

Forbes: Compilation of the top 50 blockchain list

In order to record the process of the “enterprise” blockchain, Forbes recently compiled the first blockchain 50 list (Blockchain 50). The list is launched in a single year and these companies are using this technology for meaningful purposes.

The blockchain was originally applied to cryptocurrency. Now, cryptocurrencies still have difficulty in gaining acceptance from mainstream society. However, the listed companies are mobilizing human and financial resources to build a future based on a shared database.

The 50 large companies on the new list of the magazine are using distributed bookkeeping technology to meet operational needs and play a leading role in this area. The minimum income limit or valuation of the listed companies reached US$1 billion.

The blockchain is a disruptive technology that is favored by corporate executives and has been used for a variety of purposes, such as replacing paper documents, monitoring hamburger patties, and accelerating insurance payments.

Overall, the picture of the future blockchain being portrayed by these companies is quite different from what the creators of the blockchain and early adopters expected.

Many people with an idealistic view of the blockchain dream of forming a global public network without the need for a middleman. However, many of the listed companies such as DTCC are themselves middlemen. The companies on the list are building private networks that benefit from this network through centralized management.

It is also expected that the financial institution will dominate this list. However, the top 50 blockchain companies are in a variety of industries, including energy company BP, retailer Wal-Mart, and media company Comcast.

Trend: Diversification of blockchain companies

Bridget van Kralingen, senior vice president of IBM, said in an interview that blockchain technology has already bid farewell to the childhood era. We have seen that the blockchain is moving out of the shadow of cryptocurrency and has begun to focus on solving practical business problems.

Of course, the commercial potential of blockchain technology is increasingly evident, and many companies are beginning to re-examine their models.

The application of blockchain is not only facing the situation of upgrading, but also the competition of blockchain in various fields.

For example, in terms of traceability , Ant Financial has developed a proprietary blockchain that serves to maintain the traceability of the products sold on the Alibaba market platform, while Alibaba is holding a stake in Ant Financial.

In the past two years, Nestlé, a consumer goods giant with sales of $92 billion, has tested blockchain technology with 10 products. Recently, the company joined the IBM Food Trust to track the source of food materials for products such as Gerber baby food using blockchains.

In the insurance sector , insurance giant Allianz SE has been testing blockchains for a variety of products. For example, a joint venture that sells flight delay insurance uses smart contracts. The smart contract initiates a claim as long as the flight delay reaches a certain time. The customer receives a notification on the smartphone, enters his bank account details, and pays.

Through its incubator LumenLab, Metlife has developed a mobile app based on Ethereum InsureChain called Vitana, which uses Ethereum's smart contract to automatically pay insurance in some cases.

In the field of communications , HTC recently released the new smartphone Exodus 1. The phone's built-in hardware allows cryptocurrency owners to store and recover lost bitcoins, litecoin and Ethereum in a safer way, as well as cryptocurrency transactions.

HTC phones also have a special web browser designed for websites based on blockchain construction. Given the company's small share of the smartphone market, the new mobile phone may face a long road.

South Korea's Samsung is using its Nexledger blockchain platform to revolutionize the way its battery manufacturing companies manage and execute contracts.

Samsung has developed a smartphone app for Korean consumers, using the blockchain to verify the identity of mobile phone owners to 15 national banks. The Korean identity verification system is 20 years old and the requirements for each bank to join the system may be redundant. With this application, you can eliminate the inconvenience.

In the field of payment, Alipay's Alipay has more than 1 billion users worldwide. In June 2018, Alipay launched a blockchain-based service that allows people in Hong Kong to use the service to transfer money directly to people in the Philippines, which can be completed in a matter of seconds.

Swift is a communications system between banks around the world, with an estimated daily remittance of $6 trillion. Start-up Ripple hopes to make a revolution in cross-border payments .

The future: the incredible world

From Forbes released the first "block list" of the top 50 blockchains, it is not difficult to see that blockchain technology is not only valued by the world's major enterprises, more and more start-ups are also more interested in joining the blockchain camp. in.

In addition, the blockchain technology can be applied in a wide range of fields, and its concept and influence are attracting attention from all parties, and will have a subtle influence on people in the next few years.

Some people say that the blockchain is not only a technological revolution, but also a cognitive revolution or a new business revolution. Blockchain is likely to become the architectural foundation of the “post-Internet era”.

The blockchain shows us a world where all assets will be digitized. On a valued Internet, asset transfers will be as fast, convenient, and cheap as today's information.

Others say that the blockchain will subvert the entire society, which will enable the governance system that exists only in Utopia and philosophers daydreams.

It is not known whether the blockchain will subvert the world, but in the future it will definitely bring a lot of incredible changes to the world.

(Author: Sharing Finance Lam; Editor: Alian; Source: Sharing Finance)

(This article is the sharing of financial originals, please indicate the source and author)