The massive response from Blue chips such as Microsoft and IBM to distributed ledgers has amassed substantial investments in blockchain technologies.
Microsoft Invests in Blockchain to Control Data more efficiently
Despite the polarized market opinions regarding the value of cryptocurrencies – Microsoft (NASDAQ: MSFT) recently announced that it had invested considerably in distributed ledger technologies with an aim to construct digital identities.
The idea was initially to help people all around the globe who don’t have any legal identity.
Microsoft along with other blue-chips including, Avanade and Accenture, are collaborating on a blockchain-based identity prototype on Microsoft Azure.
The innovation of blockchain-based identity management systems could also provide governments the ability to control the data from corporations to individual citizens.
According to IDC’s Blockchain Spending Guide, total investments in blockchain technologies stood around $945 million in 2017. The investment numbers are likely to increase from $2 billion in 2018 to $9.2 billion by 2021.
IBM Tops the List
Although investors are blaming International Business Machines (NASDAQ: IBM) for providing old-fashioned products, they are ignoring its dominating position in the blockchain technologies.
IBM ranked at Juniper Research survey’s top spot which was aimed at investments in blockchain technology. Microsoft was placed second.
IBM attained the market share of 43% among the companies that are actively investing in distributed ledger technologies or considering investing in these innovative technologies.
With the leading position in blockchain technologies; the company is currently engaged in significant blockchain research and development initiatives. It has already created a remarkable portfolio of Fortune-500 clients across diverse industries.
IBM has recently announced blockchain collaboration with biggest food companies including Unilever (NYSE:UL), Nestle, and Walmart (NYSE:WMT) . IBM believes that blockchain technologies would help food giants to map out the source of contaminated produce in mere seconds.
“The whole opportunity that we share is to provide transparency across the ecosystem today,” Brigid McDermott, IBM’s vice president for blockchain business development.
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