Multi-billion dollar companies are more likely to utilize blockchain for traceability and provenance than for payments and settlement, according to a new analysis of the Forbes Blockchain 50.

The now annual Blockchain 50 list was published in tardily February and includes 50 of the biggest brands in the world who are using blockchain, each with annual revenue in excess of $1 billion in annual revenue.

Inquiry from Dutch firm Blockdata, which incorporated its own data in the analysis, establish that fifteen have solutions that tackle traceability and provenance, while 13 are using blockchain for payments and settlements.

Companies with blockchain traceability solutions include IBM, Nestle, Foxconn, Honeywell, Walmart, Amazon, BMW and Mastercard. Ten of the products are already in product, while 5 are airplane pilot schemes. Employ cases are spread across agriculture, mining, aerospace, food and automotive industries.

Hyperledger and Ethereum

The Linux Foundation'south Hyperledger technology was the near widely used for traceability, followed by Ethereum — even so, a number of companies use multiple blockchains or distributed ledgers.

Blockdata'south analysis cited iPhone and Playstation contract manufacturer Foxconn's use of blockchain technology equally a notable case. Information technology is streamlining financing via its Chained Finance platform for its suppliers, many of whom are small to medium enterprises. It also highlight'due south IBM'southward contributions:

"IBM, backers of the Hyperledger blockchain projection and its many platforms, makes an appearance because of the Food Trust initiative. This plan allows companies to apace and accurately define the provenance of individual goods in its supply chain. Notable participants include Walmart, Nestlé, and Dole Foods."

Nevertheless, every bit Forbes transportation contributor Steve Banker cautioned in his contempo report about Food Trust, but because blockchain is now being used widely in traceability does not  necessarily mean information technology will be a success. He wrote:

"One time the retailer starts to generate data they volition take to see how increased costs surrounding Food Trust are balanced by lower costs in recalls; how much prices for produce will need to increase; whether those cost costs can be passed along, and similar cost/benefit trade off questions. In short, the viability of Blockchain for traceability is not assured yet, despite the mandate."

Forbes

Payments and Settlements

The next most popular category amidst multi-billion dollar companies on the list was Payments and Settlements, which accounted for thirteen products, followed past blockchain evolution (10), trading and exchanges (10), identity (vii), supply chain management (6), fraud prevention (vi), asset tokenization (5), custody solutions (four), supply chain finance (3), marketplace (3) and letters of credit (2).

Facebook, Credit Suisse, JPMorgan, Bakkt, Ripple and Square were highlighted in the payments category. Hyperledger and Ripplenet were used by ii projects each in this category, while Ethereum was used by three.

Outside of traditional finance services, Blockdata highlighted Daimler's Truck-ID and Truck Wallet products, which aim to allow vehicles to autonomously transact with other machines.

Blockdata concluded its assay by suggesting the number of products in each category would change over time:

"It's clear from the products being built and put into use that the earth's largest firms are using blockchain technology to address real problems. Areas like digital identity and asset tokenization, while less pop in this list, volition see massive growth over the side by side few years as companies effigy out how to digitize physical avails. Don't be surprised if your car starts scheduling its own maintenance (and paying for it from its own wallet), or being able to invest in fractional ownership of real estate projects every bit easily equally y'all tin trade stocks."