Among some of the companies on the list that have used distributed accounting technology are Microsoft, Google, IBM, Amazon, Bitfury, and Ripple
The renowned business magazine Forbes published a list on which it collects the names of 50 successful companies that use blockchain technology and also are valued in millions of dollars. These companies stand out for their work. They are related, directly or indirectly, to the world of distributed accounting technology and cryptocurrencies.
The list was published on Tuesday, April 16th on the website of the American magazine and is called “Billion Dollar Babies Blockchain”. The companies mentioned are the most outstanding of 2018 for their use of financial technology.
To make this list a reality and collect all the necessary information to do it, the Forbes team consulted experts in the blockchain industry to identify more than 100 large companies which use this technology directly or through consortiums. In this way, half of the nominated companies were selected.
In the third edition of “Fintech 50” by Forbes, the 50 most important companies that incorporate in their projects and in their daily work the platform emerged with Bitcoin are reviewed. The list includes a wide variety of firms, among which there are exchanges, traditional financial institutions such as banks, food companies, social network administration companies, and others.
Giants such as Amazon, Microsoft, IBM, BBVA and Intel use Hyperledger technology, whilst Google, Samsung and Signature Bank use Ethereum technology. The publication details the names of these and other companies, as well as the chain-block protocols they use daily.
Among the companies involved in the cryptocurrency sector are the popular exchange of the United States, Coinbase; the European mining and hardware firm, The Bitfury Group, and the financial services company that uses the XRP blockchain, Ripple.
Forbes’ study highlights that these global corporations have resorted to blockchain technology due to its transparency and its ability to store information in an orderly and safe manner for all the participants or people interested in the project.
Although the market for cryptocurrencies is, up to now, changing (falling or rising), the ability of blockchain technology to rapidly conduct business processes such as transactions and smart contracts, in addition to saving billions of dollars that are spent on traditional procedures, is one of its most attractive advantages.
The Richest Ones
The founders of Bitfury, Coinbase and Ripple were also on the Forbes list related to “The Richest People in Cryptocurrency”, published last week. In addition, the Forbes site published an article which analyzes the influence of blockchain technology in the current time and the cryptocompanies that were part of the Fintech 50 list.
In its articles, Forbes writes that the blockchain companies listed in Fintech 50 are “building infrastructure to support both public cryptocurrency markets and initiatives that could transform the way current financial transactions are executed and recorded”.
Everyday more and more companies are interested in the distributed ledger technology, in order to conclude their processes faster and efficiently. Even public administrations in Pakistan, Canada, The US, and Latin American countries such as Peru are looking for different ways of using cryptocurrencies’ technology.
By María Victoria Rodríguez