Top companies that turn to blockchain in their operations

Although many experts are predicting the likely burst of the crypto market bubble, many companies are still pivoting toward crypto blockchain platforms. Some companies simply want to cash-in on the crypto craze while others want to make their operations more updated and efficient.

In November of last year, mere three months ago, the total market cap of cryptocurrencies inflated in excess of 1,200 percent. This attracted huge investments from regular venture capital and private equity investors. The total market cap climbed to a dizzying height of $558 billion last Jan. 10. In just 24 hours, it had a trading volume of approximately $24.8 billion. Obviously, a market bubble is there.

Many companies are aware of the crypto bubble, and their main reason for pivoting to blockchain is its great potential for sharing and managing data. Some companies are not necessarily intent on riding the initial inflation of the bubble.

Here are some companies that are leveraging their market positions by utilizing the blockchain platform. Some of these companies originally did not use the blockchain system while others use the system as an integral part of their operations and thrust from inception.

NASDAQ

As a provider of equity market index, Nasdaq Inc. (NASDAQ:NDAQ) belongs to the largest companies that are now harnessing the full potential of blockchain. It is a company that has a market cap of $7 trillion. It combines financial expertise and technology to aid investors in trading in the global financial market.

The NASDAQ Private Market was established in 2013 with the aim of aiding corporations in doing secondary transactions. In 2015, the company announced its first securities transactions based on blockchain technology. The company has its own ledger platform, which is the Ling Blockchain.

Hitachi

Hitachi (OTCMKTS:HTHIY) is known for many things like appliances and electronic gadgets. It is also known for its bullet trains, but it is a company not very well-known to be connected with blockchain investments.

In reality, however, this company has been researching the technology since the beginning of 2000s. That actually predates the cryptocurrency Bitcoin. Hitachi is an innovator when it comes to automatic cross-system processes using blockchain. Over the years, It has improved on smart contracts using the system.

Global Blockchain

Global Blockchain (OTCMKTS:BLKCF, TSXV:BLOC), which has a market cap of around $100.6 million, is focused on blockchain technology as the primary thrust of its business. It is an investment company that also provides incubation programs. Apart from helping investors invest in crypto companies, BLOC also provides aid to startup companies in terms of liquidity and capitalization. It seeks to have a balance between stable investments and investments with high potential for growth.

Daimler AG

Perhaps not many would expect that Daimler AG (OTCMKTS:DDAIF), the German car manufacturer, is engaged in blockchain business. It partnered with LBBW and launched a Schuldschein, a one-year corporate bond worth €100 million. The entire transaction process utilized blockchain technology, which include the loan contract and the payment of interest. It is also looking into the possibility of auto financing using the crypto platform.

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