The views expressed here are the author’s own and do not necessarily represent the views of Cointelegraph.com.
British company Juniper Research recently published a study[1] which suggests that the use of blockchain technology by multinational companies is just a matter of time. Analysts report[2] that nearly 6 out of 10 corporations are considering application of this technology or already in the process of developing corporate blockchain services:
Two-thirds (66 percent) expected blockchain to be integrated into their systems by the end of 2018. Only 15 percent of respondents know about the technology by hearsay, while 75 percent are confident that its use will be "very useful”.
Earlier, Cointelegraph reported[3] that Microsoft and Amazon were considering the possibility of integrating blockchain technology into a number of their platform services. These are not the only cases where multinational corporations are making waves in the crypto space. For example, Huawei is loading[4] its phones with a built-in Bitcoin wallet, Samsung[5] revealed its plans to use blockchain for managing its global supply chain[6], and IBM has announced a partnership[7] with Nestle, Unilever and Walmart to assist with identifying and preventing contaminated products from reaching consumers.
However, can we remember at least one multinational corporation which has successfully applied the blockchain technology? Hardly. It all comes down to the "miracle effect"[8] used by companies such as Kodak or Tulip BioMed solely to increase their market capitalization. The annual growth of shares of the latter increased by 43,500 percent[9] after the word "Bitcoin" appeared in the company title. Therefore, the question of how and why manufacturers of cameras and medical supplies require blockchain technology to assist in
