The block chain is playing an important role in the enterprise level. This technology, which has long been associated with Bitcoin and ICO, has now been used in many areas, such as bank clearing, bills, credit reporting systems, to enhance the efficiency and security of these businesses.
On the other hand, established technology companies are trying to catch up with the trend of block chains. Technologies such as IBM, Oracle and Microsoft are offering customers the opportunity to experiment with block chains, while consulting firms such as Accenture and PricewaterhouseCoopers are providing customers with advice on block chains.
Bridget van Kralingen, senior vice president of IBM's Platform and Block Chain, says other companies using Block Chain technology to track goods include Kroger, Nestle, Tyson Foods and Unilever.
Most enterprise block chains are private. For example, Hyperledger Fabric, developed jointly by IBM and Digital Asset, allows only trusted participants to visit. Currently, Microsoft, IBM, Accenture, Intel, Oracle, JPMorgan Chase and Hitachi are members.
In essence, a chunk chain is a database, intent scattered in the hands of many users, immutable, and without user trust. At present, almost all block chain projects are still experimental, but the core data has the encryption characteristics that can not be tampered with. Using block chains means that parties who can access a ledger will see the same version of the latest reality. Cargo logistics, information flow and capital flow can be completely matched. In view of this, the block chain can add a layer of security protection to financial accounts or documents.
Take logistics as an example. Wal-Mart has sold or is selling 1.1 million items on block chains, and Wal-Mart can track the process of these items from producers to shelves through block chains. In addition, the Nigerian Customs uses Oracle technology to link up all relevant agencies of food and drug inspection through block chains, replacing the traditional manual operation, and realizing transparency, standardization and automation of the customs workflow.
Microsoft pays more attention to the integration of block-chain technology with its cloud service Azure, and to platformization, Microsoft China CTO Lijiang said:
The potential revenue brought by block chain technology has attracted the attention of investors. According to Crunchbase, a market data firm, Block Chain Startups raised more than $1.3 billion from venture capital firms in the first half of 2018. In 2017, the fund-raising amount was about $950 million.
Everledger, a company founded in April 2014 to register every Certified Diamond in the world in a block-chain-based register, has registered 2.2 million diamonds. Leanne Kemp, chief executive and founder of the company, said that about 100 thousand new diamonds will be registered every month.
Winter Green Research, a Massachusetts technology trends tracker, estimates that IBM and Microsoft now control 51% of the block chain market, which generated $706 million in revenue last year.
However, for block chain technology. Skeptics believe that the block chain will bring about gradual rather than revolutionary change. In some cases, it simply adds a little marketing jargon to the existing database-like system. There is still a rational debate about the real meaning of block chain.
Big tech companies are more realistic, they encourage and experiment more than they do.
The market needs to be calm, as Xiong Guangqiang put it, not