Blockchain technology has become so big that companies can no longer ignore it and some have taken the lead in integrating the technology into their businesses. Top companies from around the world are currently betting big on the market, and according to a new report, a good portion of the top 100 countries around the world are already using blockchain technology.
Top companies using blockchain technology
The top 100 countries around the world have trillions of dollars in market cap between them. They range from tech conglomerates to social media giants. But these companies have one thing in common that they have the ability to adopt new technology to advance their business.
new one report good Blockdata revealed that a significant number of these top companies are throwing their hats in the ring with blockchain technology. A total of 44 of the top 100 companies, spread across six key sectors, have begun integrating crypto and blockchain technology into parts of their operations.
Naturally, technology companies have been at the fore in this integration but media and telecommunications companies are not far behind. Three sectors contributed 36% of the top companies using blockchain.
Tech, media, and telecom lead blockchain technology adoption | Source: Blockdata
The consumer and retail and basic goods and industries sectors followed with 20% respectively. Next in line were financials which were seeing an increase in usage at 11%. Energy and utilities accounted for 9% while healthcare was down 2%.
Companies like Meta, Mastercard, Visa etc. have been prominent in this area for various integrations. Meta introduced a feature that allowed users to post NFTs on their Facebook and Instagram platforms. It is also designing an open-ended metaverse.
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 card.
Although blockchain technology appears to be most prominent among payment companies, they have also shown good use cases in supply chain management, identity verification, and many more. So despite attempts by many governments around the world to regulate the space, this hasn’t discouraged companies from integrating it.
According to the report, 86 out of the top 100 companies are actively considering integrating blockchain-related solutions for their needs, while 44 are already using blockchain technology since 2021.
Featured image from Fintech News Singapore, chart from TradingView.com
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