Enterprise blockchain began gaining traction in 2017 shortly after Bitcoin had reached its all-time excessive of almost $20,000. Since then, enterp
Enterprise blockchain began gaining traction in 2017 shortly after Bitcoin had reached its all-time excessive of almost $20,000. Since then, enterprise blockchain has primarily been outlined by non-public blockchain networks utilized by companies for issues similar to provide chain administration.
The enterprise blockchain house has modified fairly a bit since 2017. As an illustration, 2020 has introduced in quite a few enterprise blockchain use circumstances that leverage public networks quite than non-public ones. The COVID-19 pandemic has additionally pushed many firms, each massive and small, to make use of blockchain for guaranteeing proof-of-health or to revive tourism. Lastly, some blockchain firms this yr have began displaying an curiosity in decentralized finance, taking steps to drive this new sector.
Listed under are a complete of 12 firms and options which have made strides within the enterprise blockchain house this yr.
Ernst & Younger
Huge 4 agency Ernst & Younger has performed an energetic function in enterprise adoption. The agency was one of many first to discover the cryptocurrency house in 2016 when the corporate performed a survey to higher perceive the potential of digital property. Since then, EY has been main the best way for public enterprise blockchain adoption.
For instance, EY continues to contribute to the event of the Baseline Protocol, which makes use of the Ethereum public mainnet as a tamper-resistant state machine to file enterprise information. In Could 2019, EY open-sourced its Dusk code for conducting non-public transactions on the Ethereum blockchain.
Transferring ahead, EY plans to make Dusk and zero-knowledge proofs simpler to make use of for builders. Paul Brody, blockchain lead at EY, beforehand instructed Cointelegraph that builders will ultimately shift from constructing decentralized functions to creating zero-knowledge functions, or “ZApps,” with EY’s blockchain options.
IBM
Huge Blue’s open-source blockchain for enterprise platform is powered by Hyperledger Material, an vital know-how that has contributed to the expansion of the IBM Blockchain platform. For instance, the IBM Meals Belief community is presently being leveraged by main meals producers, similar to Nestlé, Dole and olive oil large CHO.
The Meals Belief community dates again to 2016 — one of many earliest examples of enterprise blockchain when IBM blockchain was being leveraged by Walmart to find out meals merchandise that wanted to be recalled. One other vital undertaking powered by IBM Blockchain is Maersk’s TradeLens platform, which helps transport giants digitize their provide chains.
As well as, the Digital Well being Move platform makes use of IBM Blockchain to assist present verifiable well being credentials, which has turn into extraordinarily vital as a result of COVID-19 pandemic. IBM Blockchain’s partnership with the American software program firm Purple Hat can be notable when it comes to open-source improvement and a cloud technique that closely depends on blockchain know-how.
Hedera Hashgraph
The decentralized public community Hedera Hashgraph was developed in 2016 with the objective of enabling builders to construct safe functions with close to real-time finality. Since then, Hedera’s community has grown to be owned and ruled by a powerful listing of firms, together with Google, IBM and Boeing.
Hedera has just lately demonstrated an vital blockchain use case with the discharge of its “SAFE HealthCheck” app, which is being utilized for distant COVID-19 testing. The app is presently getting used at Arizona State College, the place it offers over 70,00Zero college students and workers members with distant testing and digital well being standing verification. The Hedera Consensus service, the corporate’s enterprise blockchain answer, can be getting used for different vital use circumstances together with performing as an early-warning system for airstrikes in Syria.
IconLoop
South Korean blockchain firm IconLoop was based in 2016 to allow real-world blockchain functions throughout the banking, healthcare and authorities sectors. The corporate is headquartered in Seoul and has raised over $15 million in funding. IconLoop just lately introduced that Jeju Island, a tourism scorching spot in South Korea, will use its Decentralized Id blockchain to supply safe COVID-19 contact tracing.
It’s additionally notable that The Monetary Providers Fee just lately permitted IconLoop’s decentralized id authentication service into the “Progressive Monetary Providers and Laws Sandbox.” In October this yr, Cointelegraph reported that IconLoop secured $eight million in a Collection A funding spherical, which will probably be used to assist launch a blockchain-based digital id authentication service referred to as my-ID.
World Financial Discussion board
The World Financial Discussion board International Blockchain Council was developed to assist advance blockchain know-how for the worldwide public curiosity. As such, the WEF council has launched quite a few initiatives that leverage blockchain for public improvement. In Could of this yr, the council developed an inventory of blockchain ideas to guard the rights of…