Blockchain technology has grown to the point where businesses can no longer ignore it, and some have already begun to take the lead in integrating it into their operations. The world's top corporations are presently betting big on the market, and according to a new report, a sizable portion of the top 100 countries are already utilizing blockchain technology.

Companies Making Use of Blockchain Technology

The top 100 countries in the world have a combined market capitalization of trillions of dollars. They range from tech behemoths to social media behemoths. But one thing these businesses have in common is their willingness to embrace new technology to grow their businesses.

According to a new Blockdata report, a large number of these top companies have thrown their hats into the ring with blockchain technology. A total of 44 of the top 100 from six major industries have already begun to integrate crypto and blockchain technology into some aspects of their operations.

Naturally, technology firms have been at the forefront of this integration, but media and telecommunications have not been far behind. The three industries accounted for 36% of the top blockchain-using companies.

Consumer and retail, as well as basic materials and industrials, were close behind with 20% each. Following that was the financials, which had seen an 11% increase in usage. Energy and utilities accounted for 9%, while healthcare accounted for only 2%.

Meta, Mastercard, Visa, and others have been prevalent in the space for various connections. Meta had initiated a characteristic that permitted users to post NFTs on its Facebook and Instagram platforms. It's also working on an open-ended metaverse.

Crypto payments have grown in popularity as Mastercard and Visa revealed various partnerships to enable users to pay with their cryptocurrency. For example, users can use their Visa cards to spend their crypto balances on the exchange.

Although blockchain technology appears to be most popular among payment companies, it has also demonstrated promising applications in supply chain management, identity verification, and a variety of other areas. So, despite numerous governments all over the world attempting to regulate space, companies are still integrating it.

According to the report, 86 of the top 100 firms are searching into incorporating blockchain-related remedies for their needs, with 44 already using blockchain technology since 2021.

How do you see blockchain technology impacting the future of business? Let us know your thoughts by sharing this article online.

Oct 12, 2022
Digital Lifestyle

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