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Forbes Publishes List Of 50 Billion-dollar Cos. Using Blockchain


Forbes published a list of 50 major companies with at least $1 billion revenue or valuation and having U.S. operations that are implementing blockchain technology.

The list, dubbed the "Blockchain's Billion Dollar Babies," includes cryptocurrency exchanges, blockchain development companies, social media networks, banks, clearing houses, food outlet networks, tech giants, and supply chain management firms.

Amazon, Walmart, Facebook, ING, Mastercard, Microsoft and Nestle are among the "Blockchain's Billion Dollar Babies".

San Francisco-based cryptocurrency exchange Coinbase, European mining and hardware firm Bitfury, and blockchain-based financial services network and XRP token creator Ripple are also listed by the business magazine.

Forbes notes the potential for blockchain technology to simplify various business process citing the example of Depository Trust & Clearing Corp. DTCC is responsible for keeping the books on 90 million transactions a day, representing most of the world's $48 trillion in securities —from stocks and bonds to mutual funds and derivatives.

Walmart is using blockchain technology to track shipments from its suppliers and reduce the risks of food spoilage and contamination. It has already filed 50 blockchain-related patents.

Corporate groups are embracing the blockchain technology as they want to speed up business processes, increase transparency, and potentially save billions of dollars.

According to International Data Corp, total corporate and government spending on blockchain is expected to hit $2.9 billion in 2019, an increase of 89 percent over the previous year, and reach $12.4 billion by 2022. When PwC surveyed 600 executives last year, most of them said their companies are involved with blockchain.

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