Top Public Companies Are Betting Big On Blockchain Technology

Crypto Update
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Blockchain technology is now so big that companies can no longer ignore it and some have already started taking the lead in integrating the technology into their businesses. The top companies around the world are currently betting big on the market, and according to a new report, a good chunk of the top 100 countries worldwide are already using blockchain technology.

Top Companies Using Blockchain Technology

The top 100 countries worldwide have trillions of dollars in market cap among them. They range from tech conglomerates to social media giants. But one thing these companies have in common is their ability to embrace new technology to further their businesses.

A new report from Blockdata has revealed that a large number of these top companies have been throwing their hats in the ring with blockchain technology. A total of 44 of the top 100 companies which span across six major sectors have already begun integrating crypto and blockchain technology in some parts of their operations.

Naturally, the tech companies have been at the forefront of this integration but the media and telecom companies have not been behind either. The three sectors made up 36% of the top companies that were using blockchain.

Tech, media, and telecom lead blockchain technology adoption | Source: Blockdata

Consumer & retail and the basic materials & industrials sector followed closely behind with 20% respectively. Next in line was the financials which had been seeing an uptick in usage at 11%. Energy & utilities accounted for 9% while healthcare came in at a low 2%.

Companies such as Meta, Mastercard, Visa, etc, have been prominent in the space for various integrations. Meta had introduced a feature that allowed users on its Facebook and Instagram platforms to post NFTs. It is also designing an open-ended metaverse.

Crypto total market cap chart from TradingView.com

Total market cap hits $851 billion | Source: Crypto Total Market Cap on TradingView.com

Crypto payments have become even more popular as Mastercard and Visa have announced various partnerships to help users pay with their crypto. For example, Crypto.com users can spend their crypto balances on the exchange using their Visa cards.

Although blockchain technology seems to be the most prominent among payments companies, they have also shown good use cases in supply chain management, identity verification, and a host of others. So despite numerous governments around the world trying to regulate the space, it has not discouraged companies from integrating it.

As per the report, 86 of the top 100 companies are actively looking into integrating blockchain-related solutions for their needs, while 44 have already been using blockchain technology since 2021.

Featured image from Fintech News Singapore, chart from TradingView.com

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