When it comes to Blockchain, there is often no middle ground. It will either boom or bust, but nothing in between.
We have become a big proponent of blockchain technology, especially crypto-economics. We believe that Crypto-economic is the future we are heading for. In addition, we also believe that as it is a new technology, it holds the key to modern-day economic solutions.
But with so much noise and opinions floating around, we thought it would be beneficial to take a deep dive into the ramifications of blockchain technology.
An Introduction To Blockchain
For those who are new to the Crypto space, blockchains are immutable, distributed, trustless ledgers. This creates a digital scarcity in the market and the possibility for much more.
Due to their decentralized nature and economic incentive models, they stand as a potential threat to the status quo. Perhaps because of this possibility, central banks, governments, and other financial institutions are unwilling to accept it.
With the introduction of Blockchain in the industry, there has been a possibility where everything can be stored digitally. This creates an infinite and unchangeable paper trail of ownership records.
Tech Giants On Blockchain: Which Side They Stand
Tech giants in the industry have foreseen the hidden potential of the Blockchain, and this is why they are working with it behind the scene. What’s more, Some tech giants have also taken public stands by declaring themselves as a supporter of Blockchain technology.
Companies like Facebook. Amazon, Apple, Google, and Microsoft have already started their venture in the Blockchain world. Today, each of their corporate eyes is set on higher pursuit.
Whether we are talking about experimenting with Virtual reality, taking a bit from the music industry, or pursuing metaverse technology, these multi-billion dollar companies are fighting for the first place.
Let’s look at what these tech giants are doing with Blockchain technology.
Similar to Microsoft Azure cloud and Google Cloud services, Amazon was also able to launch its cloud services in the competition. They have created a fully managed service for creating and managing scalable Blockchain networks.
In 2019, Amazon was found to have hired individuals to work on one of their Blockchain projects. Since then, Amazon has listed multiple Blockchain in its marketplace. This also includes Ethereum.
Amazon has also been working on creating affiliate programs that can use Blockchain for its cloud marketplace. Talking about affiliate programs to make money, you can also check out this go url.
It is no surprise that Facebook is on the list. Facebook has been in the headlines for the last few months because of its name change. Facebook has changed its parent company to Meta to show that its company is no longer a software company but has evolved to achieve higher milestones like Metaverse.
Facebook has always been a supporter of the Blockchain network and Cryptocurrency. In fact, Facebook is the first tech giant to introduce its Cryptocurrency, Libra, into the market.
This goes to show how much they invested in Blockchain.
Microsoft was the first tech giant that accepted the whole concept of Blockchain and created The Azure Blockchain services. This platform helps users grow and build their Blockchain network on the Azure platform. This shows that Microsoft has already taken a deep dive into Blockchain technology.
The latest announcement from Microsoft discusses the conversion of the 1980s game box series into Blockchain cards using NFTs.
Apple has been fairly quiet on the Blockchain, with some mentioning the risk associated with Blockchain and Cryptocurrencies. In addition, they have also talked about how the Blockchain can bring out the innovation we need to get to the next level.
In February, Apple submitted a filing with the SEC that contained rare details related to Blockchain. After that, Apple again filed for a Patent and Trademark Office for a new system that uses Blockchain technology for timestamps.
Blockchain technology is creating a world of technology where everything will be digital. We only need to wait and see when this will become a reality. Crypto enthusiasts believe that Cryptocurrency and Blockchain hold the key for us to step into a new world.