? Although corporations began showing interest in technology and adopting blockchain back in 2014, as of September 2021, 81 of the top 100 public companies are using blockchain technology. This list also includes companies that are still in the research phase of blockchain technology, which means they are now exploring all available options to determine if the technology is right for them.
? However, even leaving out those companies that are currently in the research phase, there are still 65 companies actively developing their blockchain solutions. Blockdata has classified companies according to five levels of blockchain technology development.
? Currently, 16 of the world’s leading public companies are only in the research phase. At this time, 14 have already begun launching pilot programs, which means they are pre-testing a blockchain solution to see if it’s right for their business.
? Meanwhile, blockchain solutions are currently in development at 24 companies, and are actually in production at 27 more. These 27 companies have a blockchain-based product or service already in production that is being used by their users/customers/business partners.
? Finally, 19 of those 100 companies were originally involved in the blockchain technology field, but are no longer working with it or have never started developing it.
? The study also included data on what technology these companies preferred and what they used it for in the first place.
? Of the 30 technologies studied, Hyperledger Fabric, a distributed ledger technology (DLT), was the preferred technology for these 100 companies. About 26% of the 100 largest public companies use it. It is followed by Ethereum with 18% and Quorum with 11%.
? According to the study, one of the main ways these companies are using blockchain technology is by providing blockchain as infrastructure. Also with this technology, companies have improved characteristics such as traceability and provenance. This has happened by integrating blockchain into supply chain solutions. DLT solutions are also used in stock markets, such as clearing and settlement.
? Although blockchains have a reputation for being open and distributed, many companies have instead opted for more private solutions. Most seemed to favor exclusive blockchains that allowed them to create customized, private solutions, such as IBM’s Hyperledger Fabric and Sawtooth.