You've probably heard of something about Bitcoin in the last 2 years. Perhaps it has to be ‘mined’, perhaps its value appreciation is cyclical or that its price has risen +30% (March 2023). In fact, Goldman Sachs (NYSE:GS) ranked Bitcoin as the best performing asset in the world this year. According to his report, the main cryptocurrency was better than S&P 500, gold, root properties and Nasdaq 100 in what goes from the year.
However, the technology that allows Bitcoin to work doesn't make so much noise. Or that seems. In fact, giants like Walt Disney and Walmart They have been implementing this technology since 2014 to optimize their processes. Visa, Mastercard and Paypal They have activated payments with cryptocurrencies for many of their customers in recent years. And it is that although blockchain technology is an innovative way to ensure more transparency and traceability, it goes far beyond payments with cryptocurrencies.
La blockchain technology allows to carry out all kinds of digital transactions safely, quickly and decentralized Without the intermediation of third parties. It is an electronic book that can openly share between users and that creates an unchangeable record of their transactions.
Blockchain Technology: Use cases
The evolution of blockchain technology did not stop with the introduction of Bitcoin. There are many promising applications of this database architecture since its executable code is very flexible.The usefulness of this technology covers many sectors, including:
- Payments
- Decentralised finance
- Entertainment
- Health
- Supply Chain
- Logistics
- Tracking
- Well roots
- Vote
- Travel and leisure
Multinationals & Blockchain
My purpose is to awaken your curiosity for this game changer That is why I will briefly discuss its implementation in large companies worldwide.Walmart
The American giant uses blockchain solutions that help improve its supply chain. A system implemented in Walmart Canada in January 2022 reduced invoices in dispute from 70% to 1% and reduced manual effort dedicated to paid accounts and to charge.Walt Disney
In 2014 he launched his own blockchain platform called Dragonchain. It was described as "a major distributed cryptographic accountant book protocol that facilitates the creation of profitable commercial networks where virtually anything of value can be traced and marketed."Santander
In Brazil, Santander launched tests of a blockchain-based tokening platform for transferring ownership of used cars. The platform is designed to automate the property registration process through intelligent contracts executed on blockchain.JPMorgan Chase
The bank has years to experiment with technology. More recently, in June 2022, he announced his plans to take billions of dollars in digital assets tokenized to decentralized finances (DeFi).Roche
Healthcare industry-leading company uses blockchain technology to reduce the cost of services, waiting time for patients and give faster diagnoses.Transport Giants as Boeing, Jaguar Land Rover, Volvo and Mercedes Benz use blockchain to improve traceability of your supply chains, helping them to more effectively track minerals such as cobalt, mica, lithium as well as basic products of nickel, copper, plastics and leather. The software used assigns a digital identity to materials and accompanies the carbon emitted at each stage of production, recycling and disposal.
In addition, companies like MoneyGram or Western Union, whose business models focus on sending shipments, must adapt to changes in the face of low rates of transaction using blockchain compared with the ‘traditional method’, and many are already doing so. In fact, it is hard to believe that transferring money from one continent to another can cost up to 20% of the total amount to transfer, in some cases, and that it takes days to arrive. Blockchain solves that.
The Blockchain Age
And the list goes on. Companies like Microsoft, Amazon, Nvidia, Samsung, Visa, Goldman Sachs, Pfizer, BDA and ♪ They also use this technology. According to a study conducted by Blockdata in 2022, 81 of the 100 largest public companies per global market capitalization use this technology to optimize their processes.In fact, almost 90% of companies in the US, the UK and China are beginning to use blockchain, and 98% would be more willing to implement blockchain if they were more educated about this technology and understand how other companies are impairing it, according to Casper Labs.
Companies have no interest in being fashionable, are interested in cutting expenses. And precisely this is the case of greater use of this technology. Charles Darwin He said better:
‘Adapt or die’.
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