Blockchain technology is rapidly changing the supply chain landscape, and Ethereum has emerged as a competent platform. Businesses must have a firm understanding of global trade relationships to make effective decisions. Platforms provide the best bitcoin trading experience with a low initial deposit. The withdrawals on this platform are quick with extraordinary security. Many companies today utilize Ethereum, making it easy for other firms to adopt it themselves. If you are interested in Ethereum, you may consider knowing about the Ethereum crypto network.
The world-changing implications of blockchain technology for business value chains are only starting to be realized as corporations begin seeing its potential. A corporation’s value chain activities are its most fundamental functions, and how these are linked together determines how a company generates, delivers, and captures value.
The potential for blockchain lies not in the products or services it makes possible but in its ability to link organizations along their value chains in new ways. For example, it has significant implications for manufacturers and companies that supply parts and materials, mainly since blockchain can track the provenance of goods from initial production to final delivery. More than eight companies are using Ethereum globally; however, we have selected the eight best companies using Ethereum technology for their businesses.
Microsoft is one of the primary users of Ethereum, which is used to run its blockchain and ConsenSys. Microsoft has also developed an Ethereum blockchain explorer for developers and an Ethereum blockchain client for the Ethereum Virtual Machine (EVM) on the Azure cloud platform. It is a tool that allows Enterprise clients and developers to build, deploy, monitor, and interconnect different blockchains hosted on the Azure infrastructure.
Deloitte has begun using smart contracts powered by Ethereum to automate invoicing, regulatory reporting, and contract negotiation processes for clients. It has also started using special intelligent arrangements to optimize accounting and auditing processes for clients and emerging markets like Africa and Asia, with a broad customer base in both the public and private sectors.
Tencent is another company that has been using Ethereum for smart power contracts and intelligent digital assets for three years. It is the largest Internet Company in China, with services like WeChat and QQ, which over 1 billion people use.
According to the official statement from Tencent, it is working on a new kind of digital cash called Trust Cash based on blockchain technology which will be used as a legal digital currency for its financial service customers. In addition, it supports the issuance of VISA-like cards so that those without bank accounts can pay via WeChat Wallet.
Moss land is an application that allows users of smartphones to create virtual worlds of their creation through the use of augmented reality (AR). It uses its blockchain-based virtual currency (MOSS), which users can purchase for in-app purchases. It has also begun testing the use of Ethereum technology for a reputation system for its users.
Delphi Automotive PLC:
Delphi Automotive PLC is a multinational automotive parts manufacturing company that has started utilizing blockchain technology in its business operations by employing smart contracts run on the Ethereum blockchain platform. Delphi is a global technology supplier for carmakers’ embedded and connected vehicle systems, transportation management solutions, vehicle safety systems, driver assistance systems, and other vehicle electronics.
SAP is another global software services company experimenting with blockchain technology. It has developed a blockchain-as-a-service platform that other companies can use to build and test their blockchain applications in their operations. It has also begun experimenting with its internal systems, which it uses daily, like supply chain, retail processes, and customer services.
AMD’s Blockchain development teams have worked on the “ethereum as a service” platform since early 2016. AMD is a company that designs and manufactures computer processors used for various computing systems, from personal computers to embedded devices in televisions.
In the manufacturing industry, blockchain technology has the potential to create trust between parties involved with a transaction and hence allowing them to share data in real time with better security and lower costs. In addition, it will enable them to keep track of each step of their supply chain activities to eliminate any issues that may arise that can pressure their businesses.
NVidia is one of the world’s largest graphics chip manufacturers. It provides a complete range of high-performance computing, visual computing, and accelerated processing unit (APU) products.
NVidia has been working with IBM in developing an ethereum based cloud computing platform for enterprises to utilize their GPU power and develop applications powered by smart contracts.
Its recent announcement that it will begin mining Ethereum and Bitcoin with its new Pascal GPUs to generate revenue proves how seriously semiconductor companies like NVidia are taking to the underlying blockchain technology underneath their operations can be used by companies for greater efficiencies.