20 Enterprises Which Are Implementing Blockchain Technology

0

Corporations, organizations, enterprises as well as individuals are increasingly implementing blockchain technology as they seek to take advantage of its capabilities. It is only now that people appear to have taken note of the technology, even though it has been around for more than a decade, as it continues to revolutionize various sectors.

Contrary to perception blockchain, technology is not all about cryptocurrency. The underlying digital distributed decentralized ledger technology continues to find applications in a diverse range of industries all in the effort of changing how things are done’ and improving people’s lives.

In addition to enhancing payments processing systems, blockchain implementation continues to find its way into supply chain systems as well as digital voting systems. Some people and entities are also using the technology to power retail and loyalty rewards programs as well as digital IDs and for immutable data backup.

Blockchain technology has brought with it a new set of business ideas as well as models that companies are increasingly taking advantage of. Companies are using the technology to launch new products as well as enhance the efficiency of their existing products and service delivery.

Enterprises Implementing Blockchain Technology Infographic

Enterprises Implementing Blockchain Technology

Top 20 Enterprises implementing blockchain technology

1. Walmart: Product Tracking

Retail giant Walmart is one of the multinationals that has taken the lead in Blockchain implementation. The company is leveraging the digital ledger technology to enhance data tracking and management process, in its day to day operations. The retailer has joined forces with IBM in what is seen as a perfect example of blockchain implementation in the business of tracking meat and poultry products sold in its outlets

The company has already implemented a blockchain system capable of tracking information right from the farmer to the broker, distributor and retailer. The system came into being in response to the salmonella outbreak that the company struggled to track because of complicated documenting and IT.

Walmart employees can now track products back to their roots, thanks to blockchain technology integration. Walmart has since adopted IBM Hyperledger technology to track all meat and poultry products that find its way into its stores.

2. British Airways Blockchain Monitoring System

Britain largest airline British Airways has also implemented blockchain technology to manage information about data flights between key airports in London, Geneva and Miami. The airline is also testing a new blockchain powered VChain Verification Service that has the potential to revolutionize the check-in process.

With the new system, airlines and airport authorities will be able to verify the identity of people traveling against a database held on a blockchain. The system will counter check the validity of travel documents without sharing personal information with third parties.

3. Maersk: Blockchain Shipping Platform

Maersk, the world’s largest shipping company, has teamed up with tech giant IBM to launch the first of its kind platform powered by blockchain that will monitor shipping of cargo. TradeLens is the implemented blockchain platform that is to be used’ to track shipments as they move from one port to another.

The platform has already attracted 94 participants and 20 port terminal operators. The digital electronic shipping ledger is designed’ to record details of cargo shipment as they leave a shipping yards until they arrive at their final destination.

During the shipping process, the parties involved in the supply chain will be able to track information such as shipment arrival times and documents such as customs releases and commercial invoices. According to the shipping giant, blockchain implementation has the potential to streamline and enhance security when it comes to international shipping.

4. UPS Blockchain Logistics System

United Parcel Services has joined the Blockchain in Trucking Alliance as it looks to develop blockchain standards for the multibillion-dollar freight industry. The alliance is planning to spur standards development for the shipping industry through the implementation of a secure blockchain system.

Under the alliance, the company hopes to come up with blockchain innovations that will deliver cheaper and efficient logistics management systems. A large number of brokers, as well as hidden information across complex supply chains, are some of the challenges that blockchain technology will solve in the industry as part of the latest push.

5. FedEx Blockchain For Disputes Settling

FedEx is another shipping giant that has unleashed a good example of blockchain implementation. Blockchain implementation has allowed the company to enhance the process of settling of disputes involving customers

The company plans to use the new program to identify the kind of data to store on a blockchain, ideal for settling customer issues. The technology is also to be used’ to store records for future reference.

6. BHP Billiton: Blockchain For Supply Chain Management

Mining giant BHP Billiton is also implementing blockchain technology as it looks to enhance its supply chain processes. The company intends to use the distributed ledger technology to record and trace movements of the wellbore rock and fluid samples. By leveraging the technology’s capabilities, the company should be able to secure real-time data generated during delivery.

The blockchain system should allow the company to enhance internal efficiency thus allow it to work closely with partners. The company also requires vendors to use blockchain technology through solutions provided by the likes of BlockApps and ConsenSys to collect live data.

In addition, the company is running nodes on the Interplanetary File System, which acts as a peer-to-peer file sharing protocol in conjunction with blockchain systems.

7. Alibaba: Tracking Luxury Goods

Despite being one of the biggest critics of cryptocurrencies, Alibaba’s co-founder Jack Ma remains bullish about blockchain technology. The company plays host to the most blockchain patents in the world, underlining how focused it is about using it to enhance its operations.

On the application front, the e-commerce giant has unveiled, a blockchain based solution that enables the tracking of luxury goods sold on its e-commerce sites such as Tmall. Enhancing cross-border supply chains is another blockchain implementation example by the e-commerce giant.

The company’s Australian Unit has also developed a blockchain platform for tracking food movement with partners.

8. Tencent Blockchain For Legal Billing and Taxation

Tencent is implementing blockchain technology to enhance legal billing and taxation in the Chinese city of Shenzhen. The multinational is leveraging the technology to help combat fake invoices as well as reduce case of businesses in the city taking advantage of tax drawbacks

In partnership with Shenzhen city State Administration of Taxation, the company is hoping to use the emerging technology to verify invoices authenticity. Tencent is to link all parties to a transaction with the blockchain solution thereby making it easy for tax officials to locate the source of an invoice, verify its authenticity as well as confirm reimbursement information. The proposed blockchain solution is to be incorporated’ into the company’s messaging-scale media app WeChat platform.

9. Baidu: Intellectual Rights Management

Baidu is another Chinese multinational that has provided a good blockchain implementation example. The search giant has launched an image rights management system powered by blockchain technology.

The system provides a way for photographers as well as photo agencies to create profiles and be in a position to claim copyrights to their images. The comptECH any appears to have borrowed a leaf out of Kodak’s photo tracking system KodakOne.

The company has also unraveled a good example of blockchain implementation in the gaming sector. Leci Gou is the company’s new blockchain powered pet rearing game that is somehow similar to the CryptoKitties. The game serves as a marketing and loyalty program as players can earn crypto puppies as well as game credits on purchasing Baidu products.

In addition, Baidu has launched an open platform that allows enterprise developers to build blockchain-based applications focusing on areas of digital billing and bank credit management.

10. AIA Group: Blockchain enabled Bancassurance

Insurance giant AIA Group has implemented blockchain technology and in the process launched the first blockchain enabled Bancassurance. The solution will make it easy for the company and its bank partners to share policy data as well as documentation on a real-time basis. The solution should also lead to increased transparency as well as reduced processing times

Integration of insurers IT systems and legacy bank systems has always been a big problem. However, with the digitization of the bancassurance channel, banks should be able to pick and use their software of choice.

The implemented blockchain powered bancassurance should deliver significant revenue for life insurers. It should also help insurers engage more effectively with consumers while improving turnaround times.

11. Metlife: Blockchain Powered Automated Insurance Solution

Metlife through its Singapore based innovation center Lumen Lab has uncovered a blockchain implementation example in the health industry. The company is currently testing the world’s first blockchain powered automated insurance solution for offering women struggling with gestational diabetes financial protection.

Vitana is an example of blockchain implementation platform that seeks to address the needs of one in five expectant women in Singapore. By implementing a blockchain solution, Metlife will be able to connect customer’s electronic medical records in real time and issue policies within minutes.

The solution will also issue automatic payout upon diagnosis without the need of people making claims.

12. Facebook: blockchain for data management and protection

Facebook has had to come up with new ways of ensuring better protection of people’s data in response the Cambridge Analytica scandal. Implementing blockchain technology to take care of the huge trove of data appears to be the company’s latest push.

While implemented blockchain technology enables the storing of data in a network of computers, Facebook acts as the custodian of data something that has plunged it into trouble with people and authorities.

The giant social media has since formed a team lead by David Marcus and tasked it with the responsibility of exploring ways of leveraging blockchain technology across the Facebook network.

13. Walt Disney: Blockchain to track inventories

Blockchain implementation in theme park giant Walt Disney is also taking shape. The most obvious use case of the technology in the company’s operations is the tracking of inventories as well as sales and shipments in the parks.

The company is also exploring the use of the technology in making it easy for people to know whether a transaction is approved or declined. Dragochain is the proposed blockchain solution that the company is working on, as it joins other companies in making inroads in leveraging its capabilities

14. Ford Blockchain to support mobility technologies

Ford has joined a growing list of automotive companies implementing blockchain technology in the industry. The company is planning to implement blockchain technology to enable mobility technologies to support its Smart Mobility solutions.

A newly awarded patent suggests that the company could soon leverage blockchain technology to make it easy for cars to communicate with each other as a way of reducing traffic. The vehicle to vehicle patent details a system that will seek to alleviate traffic congestion through coordination of cars speed on the road.

15. Prudential Blockchain trade Platform

Singapore’s insurance giant Prudential has teamed up with Starhub on blockchain implementation. The two are working together on a digital trade platform targeting small and medium-sized enterprises.

Fast-track Trade is the blockchain powered platform that will seek to make it easier for businesses to find partners, and distributors as well as be able to make payments and track goods. Prudential is also to use the platform to offer insurance products.

16. Nestle: Blockchain in Supply management

Nestle is implementing blockchain technology in tracking food products especially those used by kids, right from farms. The company is implementing blockchain technology in its supply chain in line with what is happening in the shipping industry.

The fact that baby food tends to be highly sensitive calls for the use of the technology to deal with food recalls. The experiment project which will target Gerber baby food is part of an ongoing partnership involving Unilever Walmart and IBM.

17. Toyota: Blockchain To enhance autonomous driving technology

Japanese auto giant Toyota is considering implementing blockchain technology to accelerate autonomous driving technology. The company’s research unit has teamed up with MIT Media Lab to foster a digital environment whereby people and businesses will be able to share autonomous vehicle data as well as manage ride share and car-share transactions

The two are working with other partners to develop applications as well as proof of concepts to enhance mobility in the auto industry According to the company blockchain implementation will help people become more comfortable with autonomous technologies.

18. UnitedHealthcare/ Humana/Optum/ Quest Diagnostics: Blockchain For Improving Doctors Directories

UnitedHealthcare, Humana, Optum and Quest Diagnostics have teamed up to implement blockchain technology in a bid to improve inaccurate doctor’s directories. The healthcare companies are going to use the technology to secure healthcare data and distribute it in a secure way.

Blockchain implementation should allow the companies to improve the quality of data that is handed over to insurance companies in addition to reducing administrative costs. The use of the digital ledger technology should eradicate the all too common problem that comes on a claim coming through from insurers while mismatching the information provided by healthcare providers.

19. Samsung: Blockchain For Supply Chain Management

Hardware giant Samsung has also implemented blockchain technology as it looks to enhance supply chain management as well as logistics. Being one of the world’s largest manufacturer of electric appliances, the company is in dire need of a system that is capable of managing its vast supply chain.

The company is planning to use the technology to track its myriad of shipments made up of electronic devices and appliances of all sizes. The company expects blockchain implementation to fuel digital transformations by enhancing operational efficiencies.

20. Apple: Blockchain To Timestamp Data

For the longest time, Apple has been mum on whether it sees potential in blockchain technology being part of its massive empire. The filling of a new patent has, however, put the debate to rest having emerged that the company could be planning to use the digital ledger technology to create and verify timestamps.

The tech giant has detailed a new system of certifying timestamps that combines aspects of blockchain technology with Public Key Infrastructure. The system would be of great help in establishing the state of data or information shared on a ledger at any given time.

List of Enterprises Implementing Blockchain

CompanySectorBlockchain Solution
WalmartRetailUsing blockchain technology to track product movement from farmers to stores
British AirwaysTravel IndustryImplementing blockchain to manage flight data as well as verifying travelers identity
MaerskShippingBlockchain system for tracking movement of shipments between ports
BHP BillitonMiningLeveraging blockchain technology for supply chain management
Tencente-commerce/ retailSolution for verifying invoice authenticity and for ensuring tax compliance
ToyotaAuto IndustryPlanning to use blockchain technology to enhance autonomous driving technology
UnitedHealthcare/HumanaHealthcareUsing blockchain technology to improve doctors directories to enable accurate insurance claim fillings
UPSShippingBlockchain powered logistics monitoring and management solution
BaiduSearch giantUsing blockchain to enhance intellectual rights management
SamsungTechIntends to use blockchain technology to enhance supply chain management when it comes to electronics shipments
FedExShippingWorking on blockchain solution for settling customer disputes
Alibabae-commerceUsing blockchain technology to track luxury goods in its e-commerce platforms
AIA GroupInsuranceLaunched the first of its kind bancassurance for sharing policy data
MetlifeHealthcareUsing blockchain technology for storing patients medical records for insurance purposes
FacebookTechExploring the use of blockchain to enhance data security and users privacy
FordAutoLeveraging blockchain technology to enhance the mobility technologies
PrudentialInsuranceUnveils a blockchain powered trading platform for small and medium-sized enterprises
AppleTechPatented blockchain technology for time stamping data
NestleRetailUsing blockchain technology in supply management to track baby food products
GoogleTechExploring the use of blockchain technology to enhance cloud service security and for data protection

Bottom Line

We covered 20 enterprises implementing blockchain technologies in a bid to enhance service delivery and improve operational efficiency. Increased investments into the sector should lead to better innovations all geared towards enhancing people’s way of life.


About Author

Swati Goyal has an extensive work experience of more than 6 years, in the field of Finance in diverse roles ranging from accounts, financial research to and Cryptocurreny. She follows the Finance market and enjoys writing on it, Swati's hobby is reading, watching movies and television shows.

Leave A Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.