[Vol.3#2] Established Companies Wake up to Blockchain Technology Potential

Brought to you by Huobi Pro Weekly Cryptocurrencies Market Review Vol 3 #2 (18-24 Mar 2018)

Established companies around the world are pursuing Blockchain technology with varied use cases. Recent developments show that these blue-chip leaders choose to team up with strategic partners to realize the potential of Blockchain. Young Blockchain projects around the world will be taking note of the interest in Blockchain technology from established companies in anticipation or trepidation, as newer upstarts will soon have to decide between cooperation or competition with established companies.

Industry leaders in various sectors may have the deep pockets but lack technical expertise in Blockchain know-how. In cooperating with big companies, Blockchain projects and research centres will enjoy access to funding and vast market network effects of the incumbents. In competing with incumbents, young Blockchain projects can be nimbler in development road-mapping with less strings attached.

The relationship between large companies and Blockchain teams may determine the future of Blockchain technology and Blockchain assets. Will Blockchain continue on the path of political and architectural decentralization or will the future of Blockchain be different in nature? Time will tell. In this article, we will examine 4 relevant case studies from Coca-Cola, Tencent, Hong Kong Stock Exchange and IBM.

Coca-Cola looks to crack down on forced labour with Blockchain

Coca-cola looks to prevent forced labour, child labour and other forms of exploitation using Blockchain technology. The intention is to create a verifiable evidence chain to spur companies to comply with labour contracts. This project is undertaken in conjunction with the US State Department, The Bitfury Group, The Blockchain Trust Accelerator and Emercoin. The former will act as a consultant to provide expertise, while the latter three will provide technical expertise.

(Source: http://www.8btc.com/coca-cola-work-with-state-department)

Tencent plans to disrupt logistics sector with Blockchain

Tencent signed a strategic cooperation agreement with the China Federation of Logistics (CFLP) to combine resources to develop various technologies in the logistics industry. The partnership aims to develop a systematic platform based on Tencent's Blockchain - TrustSQL, which includes a platform for e-waybill service, transportation management system and warehouse management system.

(Source: http://news.8btc.com/chinas-tencent-to-embrace-blockchain-logistics-and-help-smaller-enterprises-out-of-financing-plight)

Hong Kong Stock Exchange aims to develop Blockchain Equity Settlement

Hong Kong Stock Exchange (HKEX) is cooperating with Australia Stock Exchange (ASX) in using Blockchain technology to develop applications in the domain of stock borrowing and lending, as well as for over-the-counter trades. HKEX seeks to emulate the footsteps of ASX, which has committed to using Blockchain technology to clear and settle equities.

(Source: https://www.ft.com/content/b9b17762-2c0e-11e8-9b4b-bc4b9f08f381)

IBM launches platform for start-ups to build Blockchain projects
IBM has unveiled a permissioned Blockchain to let start-ups and developers build their own Blockchain projects. Known as the IBM Blockchain starter plan, the Blockchain is currently in beta testing mode. The intent is for pilot projects and projects still in the early stages of development to build solutions on the IBM blockchain platform.

(Source: https://www.cnbc.com/2018/03/21/ibm-launches-starter-plan-for-start-ups-to-build-blockchain-projects.html)

For more in-depth analyses, read Huobi Research Weekly Vol. 3 as attached. The report is currently free to download. The data in this article is produced by Huobi Academy of Blockchain Assets. Other than companies' development in Blockchain assets, Huobi Research Weekly (Vol. 3) deals with technical market indicators such as market value of Top 100 cryptocurrencies - up 10.7%, recent price movements (BTC up 11%, Eth up 0.19%), trading volumes (rose 4.94%), hash rates (slight decrease of 1.2%), mining difficulty, rewards and pool distribution. The report also covers event-driven news like Blockchain technology developments, ICO activity - 77 new digital asset projects and global policy developments. Find out more today. Huobi Research Weekly (Vol. 3) is available for download as attached.