Google and Goldman Sachs have been well known as leaders in their respective fields. As blockchain and cryptocurrency continue to disrupt the market, these companies have become among the most active corporate investors in the emerging arena.
Google and Goldman’s Vision
Blockchain continues to affect a variety of industries. Acceptance of the technology has been spreading thanks to its promise of faster and cheaper processes. In fact, such as the recognition of the technology that the number of corporate investors for companies in its sphere has hit a record high this year – at 91. This ranks second to the 95 venture capital firms dipping their hands in blockchain as well.
Additionally, corporates engaged in 42 equity investment deals, amounted to $327 million. This is shy of the $390 million that were dealt in the entire year of 2016.
SBI Holdings, a Japanese financial services firm, is considered the most active corporate investors, according to a report from CNBC. Alphabet-owned Google ranks second as the most active corporate investors. The company’s investments can be found in Blockchain and Ripple. The first functions as a bitcoin wallet company while the latter works on money transfers through blockchain.
“Big banks and financial services firms were the first corporate players to make direct blockchain investments en masse — unsurprising, given how Bitcoin’s underlying technology lends itself, both technically and in popular thought, to financial services,” said CB Insights in the report.
Big players in the financial industry have also started experimenting on how they can use blockchain technology to their advantage.
Why Use Blockchain?
There is a reason why there is an influx of venture and corporate capitals flowing into the technology. According to CNBC, its envisioned uses include:
- Financial markets systems
- Payment platforms
- Bank operations
- Private blockchain
- Digital rights management
- Decentralizing the sharing economy
- Medical records (private blockchain)
- Digital public registries
- Law enforcement
- Securing Internet of things (IoT) devices
- P2P e-commerce
As the technology and its applications evolve, there are more opportunities for companies to explore and invest in. Experts suggest that there will be more public companies emerging to take advantage of the solution.
Pearl Pay will be introducing a series of blockchain applications, intended not only to help the Filipinos but make life easier the globe. To know more about Pearl Pay, go here.