Blockchain has injected new life into established companies like IBM and Visa
Along with the development of the block chain technology, market demand for the technology is also more and more, and it is also can bring more business to existing established technology companies, which bring some outdated products to life.
So far, big-name technology companies such as oracle, SAP SE, IBM and Microsoft have all recognized the potential of this technology and are going all out to carry out all kinds of blockchain businesses
That would be enough to highlight the great progress made in the technology, and the future looks bright for the technology.
The blockchain is becoming more and more important to the blue giant.
Now for the currency block chain technology, well known for the underlying technology demand continues to increase, so it is likely to become the next international business machines (IBM) to other global companies rent of about 60 data center one of the maximum capacity of the user.
IBM is one of the first big companies to learn about the future of the blockchain and has been contributing code to open source projects, while encouraging start-ups to try out the technology on its cloud.
Like IBM a 106 - year - old company go all out to carry out the project block chain shows that digital books classification technology since its early support in dark COINS have made great progress since the drug trade.
Market for blockchain products and services will rise to $7.7 billion in 2022 from $240 million last year, according to research firm Markets & Markets.
This creates new opportunities for established companies in the technology sector that are transitioning to cloud services, such as IBM and Microsoft.
And outdated products such as databases sold by oracle are becoming more attractive.
Jerry Cuomo, vice President of IBM blockchain technology, said:
"All these things will be new to the blockchain.
Our sales team loves blockchain because customers who buy blockchain will definitely not leave with this product, and they will buy a lot of products and services together."
Since multiple companies, such as all participants in the supply chain, can use the same blockchain, this has prompted IBM to adjust its approach to pay for salespeople.
In the past, when customers bought IBM technology directly, sales representatives were paid.
Now, Mr Cuomo says, they will get commissions when customers encourage other companies to join the blockchain and use the blue giant's systems and services.
A bright future
Blockchain allows companies to record transactions safely when they are doing business with each other.
The advantage is credibility: it is hard to reverse or change what has been recorded.
Compared with traditional database storage, the blockchain can hold more documents and data, thus realizing more nuanced insights and analysis.
In addition, it can store embedded contracts, such as car rental contracts, which can be transferred to the bank if a default occurs.
Roger Kay, President of Endpoint Technologies Associates, said:
"Blockchain is a very promising area in the technology industry.
Because the blockchain infrastructure is quite strong, the blockchain installation, software, and related services sales generate substantial revenue.
In addition to renting third-party cloud services, companies will also rely more on their own databases for storage, said Amit Zavery, senior vice President of oracle's cloud platform.
Avery said:
"In a traditional database system, only one copy of the data is available for reference, but the distributed nature of the blockchain means that all nodes now have a copy of the data.
This will increase the demand for data storage for businesses, especially those in industries with high transaction speeds.
In October, oracle announced the creation of the oracle block chain cloud service to help customers expand existing applications, such as enterprise resource management systems.
A month ago its rival, SAP SE, said customers in industries such as manufacturing and supply chains were testing their cloud services.
On November 20, Microsoft expanded its partnership with R3, the blockchain alliance, to make it easier for financial institutions to deploy blockchains in its Azure cloud.
At the same time, the blue giant is also one of the major companies behind the nonprofit open source project, which aims to create effective standards for commercial applications of blockchain technology.
IBM also offers free trial versions of blockchains in its cloud for companies.
Walmart, Visa
According to Juniper Research's survey of 400 executives, managers and technicians, nearly six in 10 major companies are considering using blockchains.
Companies such as wal-mart Stores inc. and Visa inc. are increasingly testing or using the technology to simplify supply chains, accelerate payments and store records.
Susan Eustis, chief executive of WinterGreen Research, said the deployment of blockchain would increase sales growth of cloud services, databases and servers by 35 per cent.
She says the blockchain technology will push more than 55 percent of large companies with more than 1,000 employees to use the cloud to replace their own data centers in just five years.
Cuomo said, IBM is also sell more messaging system to provide the block chain, network interface products trading API system, thus making with block chain and network application environment of communication more convenient.
Sales of databases will also increase.
Matthew Kerner, managing partner of Microsoft blockchain, said:
"We see a lot of dynamics and excitement in this area.