We studied the blockchain aspirations of the top 100 Fortune 500 companies for 2017 and provided the results in a sortable table below.
The Data: The Enterprise Loves Blockchain
No one is surprised to see enterprise blockchain projects favor supply chain management and financial service applications (especially payment processing); however, we discovered a surprising number of imaginative patent applications and a high degree of collaboration among competitors.
The cooperation among industry competitors continues even as pending blockchain patents will likely empower patent holders to reshape industries. For example, General Electric (GE Transportation), UPS, and FedEx are members of the Blockchain in Transport Alliance (BiTA) group developing blockchain standards for freight logistics. The right balance of cooperation and competition may help eliminate long standing inefficiencies in freight transportation.
In fact, standards development is a growing area of interest for many companies around the world.
We also found staunch competitors Ford and General Motors cooperating in the Mobility Open Blockchain Initiative (MOBI). The group is developing a “car passport” that will track odometer data in a distributed ledger to reduce fraud.
Nearly Every Industry is Exploring Blockchain Solutions
Our Fortune 100 blockchain data comes primarily from corporate news announcements, blockchain project websites, and the United States Patent and Trademark Office (USPTO).
Where companies do business across multiple industries, we chose to list the industry most related to the purpose of the company’s interest in blockchain. For example, Berkshire Hathaway owns Duracell, so the industry is listed as “Consumer products.”
Quick Facts:
- 54% of the top 100 Fortune 500 companies are investing in blockchain technology.
- 60% of the top 50 Fortune 100 companies are investing in blockchain while only 48% of the bottom 50 Fortune 100 companies are investing in blockchain.
- IBM enjoys a strong blockchain presence both a participant in the development of the technology as well as a consultant.
- Bank of America has filed the most patent applications of all Fortune 100 companies.