Renowned financial news publisher ‘Forbes’ has revealed a list of “Blockchain’s Billion Dollar Babies,” or corporations implementing ‘blockchain technology‘ that have min. revenues of around $1 Bln, recently on 16th April.
The Forbes list incorporates corporations within the ‘cryptocurrency‘ and blockchain development areas, additionally to the standard traditional monetary companies alike banks and clearing housers, food corporations, supply chain management companies along with others.
Most of the companies listed includes the names like Amazon, Walmart, Facebook, ING, Mastercard, Microsoft and Nestle.
Cryptocurrency-related corporations featured on the list embody U.S. based renowned crypto currency exchange namely ‘Coinbase’, leading European mining and hardware firm namely ‘Bitfury’, and blockchain-based monetary services network and XRP token creator ‘Ripple’.
Moreover, additionally outlining major companies that are dabbling or full-on adopting blockchain technology, the list also incorporates which blockchain protocols are being adopted and by whom. Numerous Hyper -ledger protocols, blockchain consortium R3’s Corda protocol as well as the ‘Ethereum‘ network are prominently featured at a number of companies across numerous industries.
Forbes also outlined the potential for ‘blockchain technology‘ to modify numerous existing business methods per the instance of DTCC [Depository Trust & Clearing Corp.], that keeps records of around 90 Mln transactions every day, or most of the world’s $48 Tln dollars in securities.
As per Forbes, the firm can begin modyfying its 50,000 accounts to a ‘blockchain‘-based system, that can further assist in eliminating duplicate procedures and reconciliations that are still at the risk on traditional electronic clearing networks.
Earlier in mid-March, DTCC ‘revealed‘ a ‘technical-paper‘ outlining guiding principles for the post-trade processing of the tokenized securities. The report outlined the distinctive characteristics of the emerging marketplace for tokenized securities and proposes that international policy standards for the traditional markets are typically applicable, and helpful for stakeholders to spot the legal responsibilities per the security token platforms.