Initially, the blockchain was developed to provide cryptocurrencies. However, the practice has shown that this decentralized database can be helpful in many other industries. So, for example, we already see the use of this technology in the financial sector, logistics, healthcare, trade, tourism, and others. We offer to consider how famous companies have implemented this technology in their work and how it has affected their profits and reputation.
What is blockchain and its other benefits?
Blockchain is a unique database that stores all data in an anonymous form. So, if information gets into the system, no one can modify it, not even its owner. Data can be manually entered into the database by a person or recorded automatically, including through artificial intelligence.
Top Companies Using Blockchain
According to some reports, 81 of the 100 most influential companies in the world use or are considering using blockchain. A decentralized database can significantly increase trust, create more secure transactions and use cryptocurrencies.
Visa and MasterCard
Visa and MasterCard are two major competitors that operate in finance. Visa was the first to take the risk of using blockchain to create more secure transactions.
MasterCard has spent a lot of time deciding to use the blockchain, but it is already preparing to issue bank cards that will support cryptocurrencies. It is a big step for the entire crypto world and the banking system.
Unilever
Unilever is one of the world leaders in producing food products and household chemicals. For the past few years, it has been using blockchain to track its supply chains and execute secure transactions.
In addition, the company can track the work of suppliers at every stage of the journey, and check whether the goods can arrive at their destination on time.
Ford
Ford is a well-known automotive giant that cares about its reputation. When building cars, quality is of the utmost importance.
Ford, together with IBM, tracks the supply of cobalt using the blockchain.
Pfizer
The pharmaceutical company Pfizer is known worldwide for its medicines and for being one of the first to create a vaccine against Covid-19. It is worth noting that when selling the vaccine, Pfizer used the blockchain to control the supply and secure transactions. It allowed us to make the transfer of goods as transparent and straightforward as possible.
Siemens
Siemens believes blockchain can help reduce energy consumption.
The company has announced a new energy-saving project, which should be a real revolution in the energy sector.
Abu Dhabi National Oil Company
Initially, it used this technology to make business more transparent but gradually began to use it to control supply chains.
It is also worth noting that the government of Abu Dhabi is also actively using blockchain to increase the level of trust from the public.
Maersk
Maersk is another big company working with IBM to use blockchain to control supply chains. It involves using an IoT platform to ensure the perfect transparency of all operations.
Singapore Airlines
Singapore Airlines regularly uses blockchain to offer loyalty-based offers to its customers. It also uses KrisPay to offer its loyal customers new promotions and special offers.
British Airways
British Airways is confident that checking safety takes too long and leads to frequent flight delays.
As a result, it began to use the blockchain for faster control and detection of intruders.
Conclusion
Practice shows that blockchain can be helpful for large global companies and representatives of medium-sized businesses in various industries. Of course, the implementation of such technologies may seem a bit costly, but it quickly pays off.