From established giants to notable startups, the following Blockchain companies are all playing a key role in shaping this emerging technology.
Blockchain has become a significant technology for business because it promises trustworthy business transactions in a very untrustworthy environment. With its unalterable ledger that can only be added to, not edited, you have a chain of transactions that cannot be faked. This has made blockchain exceptionally popular in the financial world, where trust is everything.
The beauty of the blockchain is that it eliminates the need for a central authority to validate the transaction. It transfers power and control to the businesses involved in the transaction, no third party needed. This enables safe, fast, cheaper transactions despite the fact that we may not know the entities we are dealing with.
With Blockchain, like some previous technological advents, the big names did not get left behind. All too often a disruptive technology comes along and it’s startups that embrace it while the old guard resist embracing the new. But with the cloud and IoT, we’ve seen established players jump in head first right from the get go. So it is with the Blockchain.
Our list of 20 leading Blockchain companies features a mix of old guard and new guard and reflects the leaders and innovators in the field, not just another cryptocurrency offering.
Microsoft launched its Blockchain initiative back in 2015, with the intention of integrating it with its Azure cloud service. Microsoft has begun developing blockchain applications but its main focus is on helping developers build their own apps, such as the Confidential Consortium (Coco) Framework, an Ethereum-based protocol. Microsoft also plans to integrate blockchain-based decentralized IDs (DIDs) into its Microsoft Authenticator app. Finally, Microsoft has a blockchain app creation service, called Azure Blockchain Workbench.
Amazon has a “blockchain-as-a-service” framework for Ethereum and Hyperledger Fabric, which allows developers to build and manage their own Blockchain-powered decentralized applications. Essentially, users would be able to create their own blockchain applications via the Amazon Web Services (AWS) using CloudFormation Templates tool to speed up the process.
Bank of America
America’s biggest bank is also the Blockchain patent leader, with almost 50 patents related to the technology. That’s almost double IBM, which is legendary for its patent accumulation. But it’s a financial institution under constant hacker attack so it makes sense.
One parent would securely record and authenticate personal and business data, ensuring only authorized parties can access it. Another patent calls for managing security and access to resource sub-components, or security tokens. The system would be automated and grant users access to the system for a limited time, depending on their reason for connecting. Finally, one other patent would allow for the validation of unsecured devices for known users.
IBM Blockchain Platform is a part of the IBM Cloud service that delivers Blockchain services and hosts the development of apps on the IBM cloud service. But IBM also has apps available through its new app store, LedgerConnect. The store offers financial companies access to seven vetted blockchain vendors, which will help them streamline their trading processes and back-end operations rather than building their own BLockchain system.
Oracle recently got into the game with the Autonomous Blockchain Cloud service, a platform-as-a-service blockchain product along with decentralized ledger-based applications, such as tracking items on a supply chain or handling financial transactions. Oracle uses the Linux Foundation’s Hyperledger blockchain spec and has added extra features, like APIs, patch management, backup and lifecycle of blockchain throughout the network.
Patron is a Japan-based blockchain platform for influencer marketing, so brands can connect with influencers and then for influencers to connect directly with their audience. The hope is to eliminate inefficiencies in branded content and social media. The company recently had a $40 million token-sale and is currently expanding operations to the United States.
Celsius Network is a borrowing and lending platform that will allow users to earn up to 5% interest on their cryptocurrency while taking loans at 9% interest, using their crypto as collateral. The platform uses Blockchain to enable peer-to-peer lending, and the credit limit and the interest rate is based on what is the best interest on the entire membership, not just the lenders.
Menlo One is a Blockchain framework for building decentralized applications with the speed of a traditional web app. Menlo One operates via a cross-chain node, meaning that applications built with Menlo One can seamlessly interact with all other blockchains, such as Ethereum. Second, Menlo One is fully decentralized, with no administrators. Its Proof-of-Reputation algorithm serves as an incentive to specific behaviors that provide value. Last, Menlo One operates via a decentralized database, so users experience Web-speeds when using Menlo One apps.
Buddy is an blockchain app store by developers for developers. Their goal is to automate as much of the process of application development as possible. It helps companies easily integrate the technology solution, and has a long list of action tools which can be easily integrated into the platform. This allows the creation of a complex Blockchain task in just a few clicks. It is available on Amazon, Google, and GitHub.
Ethereum is a distributed public blockchain network like Bitcoin, but instead of one particular application of blockchain technology, an electronic cash payment system, Ethereum focuses on running the programming code of any decentralized application. Instead of mining bitcoins, miners work to earn Ether, the crypto token of the network that is also used by application developers to pay for transaction fees and services on the Ethereum network. It is rapidly becoming the de facto application network, with almost half of all apps running on Ethereum.
TraDove offers a B2B social network that allows buyers and sellers of products and services to verify their potential partner’s legitimacy and whether or not they are a scam. Buyers and sellers on TraDove are reviewed and vetted to make sure all payments and transactions are completed safely and securely. Its blockchain payment network supports international transactions, which can get especially thorny.
Founded by staff from MIT and Harvard, Decentralized Accessible Content Chain (DACC) is the world’s first content-based blockchain that features identity and access management (IAM) at the infrastructure level. It is aimed at the digital content and media industry and allow content ownership and access management at the infrastructure level.
Goldilock is a new kind of data storage system that allows for individuals and institutions to securely store their assets in the cloud and access them through a secure blockchain connection. When they disconnect from their assets, the digital assets in storage are physically disconnected from the Internet until the users again want to connect to it.
Quest recently launched a blockchain pilot program together with several insurance companies, including UnitedHealth, MultiPlan, and Humana to move some data sharing into a blockchain platform. This will provide an authoritative central source for insurance provider data which can speed up Quest’s operations while reducing paperwork involved in health testing.
Late last year Visa has rolled out its blockchain-based business-to-business payments service, called B2B Connect. It facilitates direct payments between institutions, cutting out the middleman all too often needed in the financial industry, especially for international transactions.
Steem uses blockchain for a unique take on social media in that it believes in compensating content creators and creating incentives to reward desired user behavior on Websites and forums. In a way it’s a decentralized version of Reddit, only you are rewarded with tokens by providing useful and valuable content, which would be a welcome change from the typical Facebook posting.
As its name implies, Litecoin is a derivative of Bitcoin designed for small, quick purchases, as opposed to the larger financial transactions Bitcoin is frequently used for. The Litecoin network is faster and supports more transactions, making the transaction faster for buyer and seller. It’s been adopted by several merchant technologies, including the HTC Exodus, the first blockchain-based smartphone.
The counterfeit pharmaceutical market is enormous and worldwide, with all kinds of shady online pharmacies selling fake drugs. FarmaTrust is taking on this problem with its global tracking system that provides security and transparency to the market by connecting drug manufacturers, governments, regulators, and the public. In addition to keeping counterfeit drugs out of the supply chain, FarmaTrust uses AI and Big Data to provide the pharmaceutical industry with value added services for making a more secure, efficient and transparent supply chain.
R3 makes Corda, a specialized ledger for financial institutions to process financial transactions. The ledgers are interoperable, so software applications can communicate, exchange data and use that exchanged data. It has the support of more than 80 of the world’s largest financial institutions.
SimplyVital Health’s ConnectingCare platform is designed to coordinate communication between all of the various stakeholders in healthcare, from patient to doctor to insurer. By connecting the data between different hospitals, clinics, and care facilities, they can create a unified window into patient history and predict what health care needs are coming in the future. This greater visibility allows healthcare providers to more accurately forecast costs and ensure that patients receive better care.
|Microsoft||Helps developers build Blockchain into Windows and Azure apps.|
|Amazon||Blockchain-as-a-service for AWS’s vast array of cloud services|
|Bank of America||Building secure transactions and B2B exchanges|
|IBM||Has a special system for financial companies; supports BC on its cloud service|
|Oracle||Oracle app-based PaaS-based BC for ledger-based applications|
|Patron||Specializes in connecting influencers to brands they promote.|
|Celsius Network||BC-based borrowing and lending platform that directly connects borrowers and lenders.|
|Menlo One||Multi-blockchain connections for building decentralized apps.|
|Buddy||App store for developers, helping develop BC apps in just a few clicks.|
|Etherium||Very popular blockchain electronic payment network|
|TraDove||B2B social network that verifies and validates buyers and sellers.|
|DACC||Identity and access management for digital content|
|Goldilock||Secure storage system that disconnects from the Internet when you are not accessing it.|
|Quest Diagnostics||BC program to link doctors and insurers to reduce paperwork.|
|Visa||B2B payments that eliminate the need for middlemen|
|Steem||Compensates social media users for useful content.|
|Litecoin||Used in small, quick purchases. Comes with a BC-enabled smartphone|
|FarmaTrust||Connects drug makers, regulators and the public to keep counterfeit drugs out of the system.|
|R3||Specialized ledge to process financial transactions. Used by 80 of the world’s largest institutions|
|SimplyVital Health||Secure connections between doctor and patient to reduce paperwork.|