Bitcoin may be in the midst of a heartbreaking slowdown, but the blockchain still seems to be in vogue. According to a recent Forbes report or list, some of the world’s largest corporations, including a number of prominent technology companies, have ventured into this space. And silently launching human capital and money into this innovation to find something to adhere to. Crypto may be in winter, but as Forbes journalist Michael del Castillo commented, commercial applications that use the underlying bitcoin technology which is blockchain are in early spring.
According to the list, appropriately titled “Billion Dollar Babies” by Blockchain, some of the largest companies on the Earth clamor for blockchain.
Who are using blockchain technology
Depository Trust & Clearing Corp, for example, a monolith of record keeping that stores and manages the data of 90 million transactions each day. It will migrate some of its offers to a digital ledger called AxCore. The data that will be transferred to AxCore supposedly corresponds to $ 10 billion in credit derivatives. More than 50 times the current valuation of all cryptocurrencies, including Bitcoin.
World renowned banks, too, are joining the fray. Michael of Forbes Castle states that Allianz, Citigroup, JP Morgan and Fidelity are playing with this technology, especially with the business versions of Ethereum and other business-friendly accounting books. Fidelity, for example, recently launched its Bitcoin custodian for a select group of institutional clients, giving these investors more reasons to buy BTC. The Fintech firms are also expressing their love for blockchain. Just look in Ant Financial, the PayPal service of Alibaba and Mastercard, who are trying to use this technology for your benefit.
And, of course, the giants of Silicon Valley have begun to try their luck at blockchain. It is too early to know if they have been successful or not, but Google, HTC, Foxconn, PayPal and Overstock have ventured into this space.
Outside of finance and technology, blockchain has also harvested traction. Nestlé, Maersk through IBM, Bumble Bee Foods and CVS Health are among the blockchain babies who used this breakthrough for more than finance, retail products.
Crypto Adoption just around the corner
All this is fine, but most of the initiatives mentioned above are centered around the offices of corporations and institutions. However, it seems that retail adoption of this new technology, especially the digital assets themselves, is just around the corner. And this adoption can be triggered by the games of the giants of social networks in the first place.
Recently, it was reported that Kakao, a heavyweight of technology and social networks in South Korea with a clientele of millions, would soon expose its 44 million users to Bitcoin through an integrated cryptographic wallet and a chain platform. blocks. In a similar line of news, it is rumored that Facebook will launch its own basket currency stablecoin esque model for its millions of users in the coming months. All while the Russian social platform VK has already launched its own digital asset.