Global giants bet big on blockchain technology

Research from Blockdata shows that around 40 major global companies have invested in blockchain technology. Alphabet has invested in 100 public companies, including $1.5 billion across four blockchain-related firms. BlackRock and JPMorgan have also made investments close to $1 billion in this space.Other participants include Morgan Stanley, Samsung, Citi, LG, Wells Fargo, Commonwealth Bank, Goldman Sachs, PayPal, and Microsoft, which have invested in or partnered with blockchain projects.

Blockchain is a distributed database shared across computer networks. Once data is recorded on the blockchain, it cannot be altered and is visible to all participants. It provides a decentralised and secure way of maintaining transaction records.

Also Read | Crypto Corner: DeFi’s decade-long journey from $21 bn to $1.5 tnAmong listed blockchain companies, US firms dominate. Coinbase Global has a market cap of about $76 billion, while New Holdings stands at $58.6 billion. Strategy Inc., known for its large crypto reserves, has a market cap of about $106 billion. Core Scientific Inc. and MARA Holdings follow with market caps of $4.2 billion and $5.6 billion, respectively.

According to Blockdata, at least 35 companies in the blockchain space hold market values in the millions or billions of dollars.

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