The adoption of blockchain technology, the technology that underpins cryptocurrencies but also enables other solutions, has been accelerating for some time now. It is no longer only innovative forerunners who develop the technology. from a research from Blockdata shows that 81 of the world’s 100 largest companies are working on the technology!
In 2014, some companies already ventured into blockchain. But over the years, the number of companies has grown considerably. By September 2021, 81 of the largest companies would already be working on the technology, according to Blockdata researchers. If we look at companies that actually use the technology, we see 65 companies. This concerns solutions for, for example, supply chain management, blockchain as a service (BaaS) products and financial solutions for, for example, international trade.
26% of 81 companies are currently building under the umbrella of Hyperledger Fabric, a blockchain project founded by the Linux Foundation. This makes this project the most popular of all blockchain platforms. In second place we find Ethereum (ETH) with 18 companies. Companies such as PayPal, Amazon, Microsoft and Coca Cola could use the decentralized smart building a contract platform.
Blockchain is here to stay
Lucas Schweiger, the author of the study, draws a big and important conclusion from his research. He is writing:
“We hear too much in the media about bitcoin prices, trading volumes and when will Bitcoin go to $100,000? But the truth is, this does not accurately represent some of the biggest developments happening with blockchain technology.”
He adds:
“Clearly, blockchain adoption is happening among businesses, with growing interest from those who have been on the sidelines. The technology has been praised and condemned in the public eye for many years, but it is becoming increasingly clear that the technology has been consistent and stable during these volatile price market cycles.”
Regarding adoption, we saw good news last night. Twitter has the tip jarfunction activated. It allows Twitter users to send each other bitcoin. You can read more about that here!