Forbes | Alphabet, Oracle, Fujitsu, Walmart Among 50 Companies Deeply Involved in Blockchain

Despite multiple collapses and challenges in the cryptocurrency market in 2022, dozens of companies worldwide continue to invest in blockchain technology. By leveraging the distributed database technology of blockchain, these companies aim to operate their businesses better, more efficiently, or at a lower cost. Renowned business media Forbes has listed 50 companies deeply involved in blockchain technology, including familiar names such as Meta, Chainalysis, Coinbase, CME Group, BlackRock, and more. Let's take a look at which other well-known companies have already been at the forefront of utilizing blockchain technology!

This article is a summary based on "Forbes Blockchain 50 2023". For more information, please refer to the original source.

Alphabet

Google's parent company Alphabet has invested in blockchain companies such as Fireblocks, Dapper Labs, and Digital Currency Group through its venture capital arm. Additionally, Google's cloud division established a dedicated team in January last year to help companies access cryptocurrency market data faster and launch blockchain-based products. Through a partnership with Coinbase, Google plans to start accepting cryptocurrencies as a payment method for its cloud services.

Ant Group

Ant Group, a giant fintech subsidiary of Alibaba, operates over 50 applications on its proprietary blockchain. One of these is the "Treasure Plan," which creates and distributes digital copies of ancient Chinese artifacts in the form of NFT-like digital collectibles to help museums and galleries promote their collections. Ant Group has also developed an engine that reportedly stores blockchain data 15 times more efficiently than mainstream providers. Topnod is a digital collectibles platform supported by Ant Group, which has used it and saved 75% on storage costs.

De Beers

De Beers sources diamonds in Canada and South Africa and has been using blockchain to track the mining, cutting, polishing, and sales processes of gemstones since 2019, now processing over 100,000 gems monthly. Its Tracr blockchain closely monitors 600,000 registered diamonds, accounting for approximately 15% of the world's production—worth over $2 billion.

Estée Lauder

Concerned about what they put directly on their skin, beauty company Estée Lauder is integrating blockchain technology with brands like Aveda to track ingredients such as vanilla essence and pomegranate seed oil, which are susceptible to environmental and labor issues.

Fujitsu

The Japanese electronics giant operates a blockchain innovation lab in Brussels for over 50 clients, including Italian automaker Iveco and beer giant Anheuser-Busch. In July last year, Fujitsu partnered with Tokyo Chemical Group Teijin to create blockchain for manufacturers looking to offset their carbon footprint through the use of recycled materials. The technology verifies the source of recycled materials and tracks a company's carbon footprint over time, making it difficult to counterfeit or greenwash data.

NTT

Japanese telecom giant NTT's data and IT consulting subsidiary NTT Data helped create a bank reconciliation tool called Spunta Banca, built on the Corda distributed ledger platform and centrally coordinated by ABI Lab, the research and innovation center of the Italian banking association, processing 623 million transactions for about 100 Italian banks since March 2020.

Oracle

In 2022, the University of Delhi awarded digital degrees to 170,000 students and distributed diplomas on the blockchain for authenticity. Keep Sea Blue is a nonprofit based in Athens, Greece, using blockchain to help partners verify plastic waste removed and recycled from the Mediterranean. Global Shipping Business Network, an alliance handling one-third of the world's container shipping business, enhances transport efficiency and visibility. These technologies all utilize Oracle's OCI blockchain platform.

Walmart

American retail giant Walmart uses blockchain to trace the journey of 1,500 food products from 70 suppliers from farm to store, making it easier to detect contamination or spoilage cases. Walmart is also experimenting with blockchain-based invoices, shortening the process from about three months to near real-time.

Additionally, the report introduces Block, ExxonMobil, Line, Nike, Samsung Group, Warner Music Group, and various financial and payment-related companies such as BNY Mellon, China Construction Bank, Fidelity, Franklin Templeton, Goldman Sachs, HSBC, Industrial and Commercial Bank of China, JPMorgan, KKR, Mastercard, PayPal, Robinhood, Signature Bank, Société Générale, and Visa. Interested readers can delve further into the details.