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Published by Matt Schifrin
Reported by Michael Del Castillo, Jeff Kauflin, Sarah Hansen, Kristin Stoller, Alex Knapp, Jonathan Ponciano, Amy Feldman, Karsten Strauss, Lauren Debter, Rachel Wolfson and Darryn PollockA flawless stay
Crypto-currencies can be in the depths winter, but it's early spring for new commercial applications using the underlying bitcoin technology. Take the case of financial record keeping, the giant Depository Trust & amp; Clearing Corp, also known as "DTCC". He is responsible for accounting for 90 million transactions a day, which accounts for most of the $ 48 trillion in global securities – from stocks and bonds to mutual funds and derivatives.
Decades ago, everything was done on paper and now, although electronic, it continues to be cluttered with a multitude of duplicate procedures and reconciliations among thousands of its members. In a few months, DTCC will discretely launch the largest live implementation of blockchain, the distributed database technology popularized by bitcoin cryptocurrency. Records of nearly 50,000 accounts in DTCC's commercial information warehouse, where information on $ 10,000 billion of credit derivatives is stored, will be transferred to a large personalized digital book called AxCore. Soon, everyone will have access to a single real-time account of transactions, eliminating layers of databases.
Walmart uses blockchain technology to track shipments from suppliers and reduce the risk of food spoilage and contamination. He has already filed 50 patents related to the blockchain. Seagate hard disk manufacturer uses this technology to detect and prevent counterfeiters. Metlife can now pay claims instantly to future mothers who have a positive gestational diabetes test.
Why Blockchain?
Rather than being disrupted by ICO-funded newcomers, global companies are embracing the technology behind crypto-currencies such as bitcoin, as they want to accelerate business processes, increase transparency, and potentially save billions of dollars.
Main feature: Blockchain will work
MORE ABOUT BLOCKCHAIN:
Digital detectors: executives who threw their costume for crypto
Blockbin: AB InBev focuses on African farmers
Control the ledger: anxious to avoid obsolescence, the world's largest financial companies adopt Blockchain
According to International Data Corp, total spending by businesses and governments in the blockchain is expected to reach $ 2.9 billion in 2019, an 89% increase over the previous year, to $ 12.4 billion. dollars in 2022. When PwC interviewed 600 executives last year, 84% said their companies are involved with blockchain.
Presentation of Forbes Blockchain 50
With the help of industry consultants and other experts, ForbesThe team of reporters and editors has identified more than 100 major companies actively exploring the blockchain through industrial consortia and other proprietary projects. Our new list includes 50 programs – with minimum revenues or assessments of $ 1 billion and operations in the United States – that are paving the way for the adaptation of the decentralized ledgers to their operational needs.
That's to eliminate paperwork, monitor hamburger pies and speed up insurance payments, the anti-establishment software is welcomed in the sequel Executive.
Blockchain cooptation for the boardroom
Ironically, the version of a blockchain future that these companies build is, for the most part, quite different from what the founders and early blockchain users had envisioned. While many crypto-currency idealists fantasize about a global public network of individuals connected directly and democratically, without intermediaries, these companies – many of whom are middlemen like DTCC – build private networks that they use to take advantage of centralized management.
The list below identifies the distributed ledger platform that each company uses. For details on specific blockchain projects in progress, please click on the name of the company.
Watch: What is Blockchain?
EDITED BY MATT SCHIFRIN AND JANET NOVACK. REPORTED BY MICHAEL DEL CASTILLO, JEFF KAUFLIN, SARAH HANSEN, KRISTIN STOLLER, ALEX KNAPP, JONATHAN PONCIANO, AMY FELDMAN KARSTEN STRAUSS, LAUREN DEBTER, RACHEL WOLFSON, DARRYN POLLACK. ILLUSTRATIONS BY TONY HEALY FORBES. PICTURE OF VIKTOR KOEN COVER FOR FORBES
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Published by Matt Schifrin
Reported by Michael Del Castillo, Jeff Kauflin, Sarah Hansen, Kristin Stoller, Alex Knapp, Jonathan Ponciano, Amy Feldman, Karsten Strauss, Lauren Debter, Rachel Wolfson and Darryn PollockA flawless stay
Crypto-currencies can be in the depths winter, but it's early spring for new commercial applications using the underlying bitcoin technology. Take the case of the Depository Trust & Clearing Corp. Registration Bank, also known as "DTCC". He is responsible for accounting for 90 million transactions a day, which accounts for most of the $ 48 trillion in global securities – from stocks and bonds to mutual funds and derivatives.
Decades ago, everything was done on paper and now, although electronic, it continues to be cluttered with a multitude of duplicate procedures and reconciliations among thousands of its members. In a few months, DTCC will discretely launch the largest live implementation of blockchain, the distributed database technology popularized by bitcoin cryptocurrency. Records of nearly 50,000 accounts in DTCC's commercial information warehouse, where information on $ 10,000 billion of credit derivatives is stored, will be transferred to a large personalized digital book called AxCore. Soon, everyone will have access to a single real-time account of transactions, eliminating layers of databases.
Walmart uses blockchain technology to track shipments from suppliers and reduce the risk of food spoilage and contamination. He has already filed 50 patents related to the blockchain. Seagate hard disk manufacturer uses this technology to detect and prevent counterfeiters. Metlife can now pay claims instantly to future mothers who have a positive gestational diabetes test.
Why Blockchain?
Rather than being disrupted by ICO-funded newcomers, global companies are embracing the technology behind crypto-currencies such as bitcoin, as they want to accelerate business processes, increase transparency, and potentially save billions of dollars.
MORE ABOUT BLOCKCHAIN:
Digital detectors: executives who threw their costume for crypto
Blockbin: AB InBev focuses on African farmers
Control the ledger: anxious to avoid obsolescence, the world's largest financial companies adopt Blockchain
According to International Data Corp, total spending by businesses and governments in the blockchain is expected to reach $ 2.9 billion in 2019, an 89% increase over the previous year, to $ 12.4 billion. dollars in 2022. When PwC interviewed 600 executives last year, 84% said they are involved with blockchain.
Presentation of Forbes Blockchain 50
With the help of industry consultants and other experts, ForbesThe team of reporters and editors has identified more than 100 major companies actively exploring the blockchain through industrial consortia and other proprietary projects. Our new list includes 50 programs – with minimum revenues or assessments of $ 1 billion and operations in the United States – that are paving the way for the adaptation of the decentralized ledgers to their operational needs.
That's to eliminate paperwork, monitor hamburger pies and speed up insurance payments, the anti-establishment software is welcomed in the sequel Executive.
Blockchain cooptation for the boardroom
Ironically, the version of a blockchain future that these companies build is, for the most part, quite different from what the founders and early blockchain users had envisioned. While many crypto-currency idealists fantasize about a global public network of individuals connected directly and democratically, without intermediaries, these companies – many of whom are middlemen like DTCC – build private networks that they use to take advantage of centralized management.
The list below identifies the distributed ledger platform that each company uses. For details on specific blockchain projects in progress, please click on the name of the company.
Watch: What is Blockchain?
EDITED BY MATT SCHIFRIN AND JANET NOVACK. REPORTED BY MICHAEL DEL CASTILLO, JEFF KAUFLIN, SARAH HANSEN, KRISTIN STOLLER, ALEX KNAPP, JONATHAN PONCIANO, AMY FELDMAN KARSTEN STRAUSS, LAUREN DEBTER, RACHEL WOLFSON, DARRYN POLLACK. ILLUSTRATIONS BY TONY HEALY FORBES. PICTURE OF VIKTOR KOEN COVER FOR FORBES