Public and private investment interest will only increase as the benefits of blockchain technology becomes more apparent. In fact, we’ve already seen interest from companies like Microsoft, IBM, Google and Facebook. However, this is just the start.
Company investment in blockchain technology
There is a significant disruption occurring thanks to the growing level of adoption of blockchain technology. With many companies having their offerings threatened by new blockchain solutions, they are looking to regain their edge.
This means they are considering investment in research and development involving blockchain technology applications. According to the latest research, the blockchain products and services sector is set to pass the $60 billion mark by 2024.
There are many large corporations aiming to enhance their processes and efficacy using blockchain technology. Additionally, it will improve the working conditions of employees in many cases. However, it may also lead to certain jobs becoming redundant.
Examples of Major blockchain Adoption
Amazon has been developing blockchain apps for some time now. They are trying an advantage over their online commerce competition. They also indicate an investment in a blockchain offering as a discrete service. This is something Oracle and IBM are also promoting.
There are a number of leading executives in Facebook nurturing an investment in blockchain development. They are focusing on cryptocurrency and decryption apps. This is significantly different to what they typically deal with.
Facebook is looking to expand its eCommerce investment. Therefore, a native digital currency could be imminent. They also have well-known data issues, something which the use of blockchain technology could help to improve.
While Google does not have an extensive history of investment in this space, they have a small team working on relevant projects. The advertising industry is experiencing substantial disruption with the adoption of blockchain technology. Google will need to protect their position in this market.
With the considerable investment of these leading companies in this space, it provides another avenue for investors insert their money into more mature blockchain products and services.
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