50% Of Forbes Billion Dollar Firms Use The Ethereum Blockchain

A new article by Forbes shows that over 50% of Forbes billion dollar firms are working with the Ethereum blockchain, including several high-profile technology firms. The list of companies include Amazon, Overstock, BNP Paribas, UBS, Metlife, Coinbase, Google, Microsoft, Comcast, Foxconn, Intel and Samsung – an impressive roster for a list that is yet to be fully revealed. The list, compiled by a team of writers and editors, only focuses on companies with operations in the US.

Forbes writer Michael Del Castillo in the article, which looks at the top 50 $1billion+ blockchain companies or “blockchain babies”, said that the market may be in a bit of rut but the underlying technical developments are growing rapidly – especially with established entities that are looking to leverage the strengths of blockchain.  The article reads,

Rather than be disrupted by ICO-funded upstarts, global corporations are embracing the technology underlying cryptocurrencies like bitcoin because they want to speed up business processes, increase transparency and potentially save billions of dollars. According to International Data Corp, total corporate and government spending on blockchain should hit $2.9 billion in 2019, an increase of 89% over the previous year, and reach $12.4 billion by 2022. When PwC surveyed 600 execs last year, 84% said their companies are involved with blockchain.

32 of the 50 companies revealed are building applications on top of Ethereum or platforms derived from it, while 24 of said companies are also using the Ethereum blockchain.

Ethereum Interest is High

Ethereum focused software technology company ConsenSys itself posted the news and its founder – and Ethereum co-founder – Joseph Lubin attended the Deconomy conference and spoke extensively about the prospects of the Ethereum blockchain and its solutions, and it appears that his convictions are backed up by the data in the Forbes piece.

Professional services firm Ernst and Young has also released a new tool for corporate clients that runs on top of the Ethereum blockchain, with a focus on private transactions.