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Major Industries and Companies Using Blockchain Technology for Business

Blockchain technology has become very popular these days. With all the advantages compared to traditional platforms, more and more companies have started using them.

It has become an integral part of some of the most important industries in the world. Some of the well-known companies like Microsoft, Walmart, IBM and Bank of America use it.

Initially, only the banking and finance sector used this technology, but later other industries also started using it. As it is a decentralized network without any government interference or middleman, most of the new companies establish their business on this system.

Top Industries and Companies Using Blockchain:

Do you wonder which all companies use this technology for conducting business? To answer your question, here are the top industries and companies which use this advance decentralized network.

1.    Bank and Finance:
This is the first industry that adopted using blockchain technology. There are many banks which use it for conduction business. Apart from banks, financial institutions like insurance companies also use it. Here are some of the banking and fiancé companies which use this technology.

•    Barclays: It is the second-largest bank in the United Kingdom. This bank uses the technology for the KYC process along with the transfer of funds. They have a patent for using the technology for these two processes. 

•    Visa: This finance company has been using the technology since 2016. It is mostly used for the B2B payment process. Slowly and steadily, they are covering more and more markets.

•    Bank of America: This popular bank uses technology for various operations. They are planning to use an open-source ledger. It will help them in financial transactions. They have filed for nine patents to use this technology.

2.    Healthcare:
After banking and finance, this technology is mostly used by the healthcare industry. Most healthcare and medical companies are using it so that patients can control their medical data and history. It will help them to increase the quality of healthcare services. Here are some of the healthcare companies which use this technology.

•    FDA: This Company is using this technology so that they can easily secure data. It will help the patients to access the data and create healthcare solutions for conducting trials.

•    Pfizer: It is one the largest healthcare company which made a breakthrough in Cobid-19 vaccines. They are creating a platform using this technology. It will help them in tracking records. They can use it to manage inventory as well.

•    Change Healthcare: They are building intelligent healthcare using this technology. It will help them in real-time patient management. It will help in promoting trust between doctors and patients.

3.    Supply Chain:
This is another important industry that uses blockchain technology. It is a complicated process in which you need to manage inventory, stay in contact with certain parties. Most of the companies are using this technology to manage the supply chain. Here are some companies which use this technology.

•    Walmart: This Company has been using this technology for a long time. They use the technology provided by IBM. All the supply chain management activities and tracking is done via this system.

•    Unilever: This is another company that uses the same technology for the supply chain management. Currently, they are using this technology only for Tea Company. It helps them to track all the transactions.

•    Ford: This popular car company also uses this technology for managing the supply chain. The platform is provided by IBM. They use it to track raw materials. It helps them to get quality raw materials from cobalt suppliers. 

4.    Insurance:
This industry also uses blockchain technology for conducting business. It gives power to the insurance companies to build trust amongst the parties. They use it for transparency and creating a smart platform for people to get insurance. There are many popular insurance companies that use this platform. Here are some of the companies.

•    MetLife: This is one of the top companies which uses shared public ledger technology. They are a collaboration with other companies to design a platform. It will help the friends and family to know if the person was insured. It also helps to automatically file a claim.

•    AIG: It is a public insurance company. They are working together with other companies to develop a smart platform. It will help them to easily take care of all the complicated tasks.

5.    Energy:
The energy industry is growing at a fast pace. In order to fulfil the energy demands of people and provide power, they are using this technology. Here are some of the top energy companies which use technology.

•    Shell: This energy company is using digital technology for trading crude oil. It will help them to keep all things transparent and promote trust amongst parties.

•    TenneT: It is an electric power company which provides electricity. They are using digital technology to meet the high demands of people and deal with low supply.

6.    Travel:
Nowadays, more and more travel industries are using Blockchain technology. It helps them in speedy transactions. As the transaction fees are less and there are fewer frauds, it is ideal for them. Here are some travel companies which uses this technology.

•    Lufthansa: It is one of the most popular airlines. They are using this technology for the aviation business. They are going to include different parties together for this venture.

•    British Airways: They are using the technology for security checkup. As it takes lots of time and efforts, they are using digital technology for it.

7.    IoT:
This is one of the fastest-growing industries. There are many companies that are using digital ledger technology for growing their IoT business. It helps them connect with the platform and track all things. Here are some companies which use this technology.

•    Van Drop: They are using this technology for IoT business. It helps them in starting and managing smart home projects. 

•    Maersk: They are using it for boosting supply chain management business. Along with that, they are using it for IoT business as well. 

Here are some of the major industries and top companies which use blockchain technology for conducting their business smoothly.