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With Blockchain being one of the hottest topics right now, many major companies are jumping on to the bandwagon and are investing in research in Blockchain in order to make their business more efficient and increase productivity. Given how cutting edge the technology is, companies are being discrete about their foray into Blockchain technology and the manner in which the exploration of the technology is being conducted. Below are some of the major companies using blockchain technology. 

Industrial and Commercial Bank of China

The Industrial and Commercial Bank of China, which is one of the largest government-owned banks in China, is closely working on the concept of a stock exchange completely working on Blockchain technology. In furtherance of this, the Bank has also filed an application for a Patent for the verification of digital certificates using Blockchain, rather than the central authority which normally verifies these certificates.

Berkshire Hathaway

Although Warren Buffet, the founder of Berkshire Hathaway was highly skeptical of the Bitcoin, even to the extent of comparing it to rat poison, Berkshire Hathaway is making forays into the world of Blockchain technology by researching and using the technology to trace diamonds as well in their supply chain management business.

Bank of America

Bank of America is considered to have one of the highest numbers of patents with respect to Blockchain technology in the world. The Bank is currently working on the Ethereum Blockchain technology in order to completely remove all third parties from the process of letters of credit. This will go a long way in reducing the number of Bank frauds.

Apple

Steve Wozniak, one of the co-founders of Apple Inc. was a strong proponent of Blockchain technology. Pursuant to that Apple has been working on various aspects through which Blockchain technology can be integrated into their products. Apple has also filed a patent which timestamps data by employing Blockchain technology.

Microsoft

Microsoft is one of the first companies in the world which has worked on the monetization of Blockchain services. It is providing Blockchain services through its Azure platform. It works in a manner which provides “the scaffolding for an end-to-end blockchain application”.

With a large number of companies using blockchain technology and the vast implications of using it, none of the major companies want to be left behind. Although the implications are largely in the Financial sector and Supply Chain management, with banks making the most of the technology, the applications are widespread with even companies like Toyota making use of Blockchain technology in self-driving cars.