{"id":648,"date":"2018-04-17T04:45:47","date_gmt":"2018-04-17T01:45:47","guid":{"rendered":"http:\/\/kusuaks7\/?p=253"},"modified":"2025-08-04T13:44:51","modified_gmt":"2025-08-04T13:44:51","slug":"why-big-tech-companies-are-going-to-the-blockchain","status":"publish","type":"post","link":"https:\/\/www.experfy.com\/blog\/fintech\/why-big-tech-companies-are-going-to-the-blockchain\/","title":{"rendered":"Why Big Tech Companies Are Going to the Blockchain"},"content":{"rendered":"\t\t
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\n\t\t\t\t\t\t\t\t\tReady to learn Blockchain?\u00a0Browse courses<\/a>\u00a0like\u00a0Blockchain for Finance Professionals<\/a> developed by industry thought leaders and Experfy in Harvard Innovation Lab.<\/em><\/strong>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThe demand for\u00a0Blockchain technology<\/a>, renowned for being the core of what propelled Bitcoin to such heights, is growing at such a rapid pace that it is starting to exceed Big Blue. It is expected that it soon will take up the capacity of approximately 60 data centers which\u00a0IBM<\/strong>\u00a0leases out to companies globally.\u00a0IBM<\/strong>\u00a0represents one of the initial large companies to observe Blockchain\u2019s potential, supplying code to a freely accessible effort, while they are encouraging startups to try Blockchain technology at no cost on its cloud.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThe fact that IBM, a company which was established 106 years ago, is devoting so many resources to Blockchain is evident of how far this technology has proceeded in a relatively short space of time. Market researchers have stated that the services and products related to Blockchain are set to reach $7.7 billion in 2022, which would be an increase from $242 million in 2016.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tSome of the technology world\u2019s old battleships are embracing new opportunities, such as\u00a0Microsoft Corp\u00a0<\/strong>and\u00a0IBM<\/strong>\u00a0which are transitioning to cloud services. Blockchain technology allows companies conducting business with one another to securely and openly record transactions.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThese recorded transactions cannot easily be changed or reversed, and the Blockchain can store considerably more data in comparison with conventional database storage, resulting in more refined analysis and insights. Embedded contracts such as a car lease can be created whereby upon default by the lessee, the virtual-key could be reassigned to a bank.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tAccording to a survey conducted among 400 managers, executives and tech personnel by\u00a0Juniper Research<\/a>, approximately six out of ten large companies are considering the use of Blockchain technology. Companies like\u00a0Visa\u00a0<\/strong>and\u00a0Wal-Mart Stores<\/strong>\u00a0are using or testing the technology in order to speed up payments, streamline supply chains and store more in-depth records.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tAmit Zavery,\u00a0Oracle\u00a0<\/strong>Cloud Platform\u2019s senior vice President, is of the opinion that besides hiring 3rd parties as far as cloud use is concerned, companies will depend more on storing data in their own databases. He pointed out that in conventional database systems, only a single copy of such data exists for the reference of all the parties. However, due to the way in which blockchain technology is distributed, all associates hold a copy. This will result in the expanding of the requirements for data storage, particularly for businesses which have a high transaction rate.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tBlockchain represents an amazing opportunity for companies to create safe and secure global infrastructure. The\u00a0Oracle Blockchain Cloud-Service<\/strong>\u00a0announced in October, 2017 will assist customers extending their existing applications with management systems for enterprise resources. In September 2017, their rival\u00a0SAP SE<\/strong>\u00a0stated that clients in a supply chain and manufacturing corporations were busy testing their cloud service.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Microsoft\u2019s association with consortium R3 was expanded on November 20, 2017. This will pave the way for financial institutions to establish Blockchains in their Azure cloud.<\/blockquote>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThe CEO of WinterGreen Research, Susan Eustis, stated that the distribution of Blockchain technology will result in increasing sales in servers, cloud services, and databases to an extent of 35%. She said that in a five-year period, over 55% of considerably sized corporations employing over 1,000 staff members will opt to utilize the cloud rather than their own data-centers compared to 17% currently.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThe more general adoption of Blockchain technologies by mainstream businesses as well as trailblazers are attempting to carve out new niches where this technology could yield significant results, appears to be closer at hand every day.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The Blockchain technology allows companies conducting business with one another to securely and openly record transactions, store considerably more data in comparison with conventional database storage, resulting in more refined analysis and insights. Approximately six out of ten large companies are considering the use of Blockchain technology.  Blockchain represents an amazing opportunity for companies to create safe and secure global infrastructure.  The more general adoption of Blockchain technologies by mainstream businesses as well as trailblazers are attempting to carve out new niches where this technology could yield significant results, appears to be closer at hand every day.<\/p>\n","protected":false},"author":276,"featured_media":3487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[192],"tags":[98],"ppma_author":[1803],"class_list":["post-648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","tag-blockchain"],"authors":[{"term_id":1803,"user_id":276,"is_guest":0,"slug":"mary-spio","display_name":"Mary Spio","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","user_url":"","last_name":"Spio","first_name":"Mary","job_title":"","description":"Mary Spio is Founder, Chief Visionary & Product Architect at CEEKVR INC<\/a>, an award-winning developer of premium social virtual and augmented reality experiences and the Smart Virtual Currency (VR Token) and Crypto\/Blockchain marketplace. She worked with Boeing Digital Cinema, Intelsat and Aerospace Corp developing technologies that have changed media and communications, and provided technical guidance and content solutions for over 200 radio stations, Microsoft XBOX, Tribune News Company, Coca-Cola, Toyota and many more. She helped create the technology that changed the entire movie distribution paradigm working with Lucas Films, 20th Century Fox, and other major studios. Department of State appointed her as a Speaker on Innovation and Entrepreneurship on behalf of the United States to speak in various countries including South Africa, China, Mexico, Ukraine, Russia and more."}],"_links":{"self":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/users\/276"}],"replies":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/comments?post=648"}],"version-history":[{"count":4,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/648\/revisions"}],"predecessor-version":[{"id":38014,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/648\/revisions\/38014"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/media\/3487"}],"wp:attachment":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/media?parent=648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/categories?post=648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/tags?post=648"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/ppma_author?post=648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}