7 Companies Using Blockchain SaaS Services
Blockchain SaaS services and technology have evolved significantly over time, initially garnering attention primarily due to its association with cryptocurrency. However, in recent years, global conglomerates and MNCs have also started recognizing the potential of blockchain technology. If you’re a business owner or CEO seeking information about leading companies using blockchain consulting services, this blog will certainly help.
While the current value of the blockchain SaaS services market stands at approximately $10 billion, experts at Blockchain Research and Analytics firm predict that it will witness remarkable growth and surpass $1 trillion by 2030.
Although the finance sector has been at the forefront of blockchain adoption, numerous other industries are gradually integrating blockchain and IoT solutions to reduce time and costs while enhancing value.
Now you may be curious about the top multinational companies collaborating with blockchain consultants to drive their business. Find your answer below.
Top 7 global companies using blockchain SaaS services
While Walmart has expressed interest in utilizing Web3 and blockchain solutions to create a decentralized food supply ecosystem, its current focus is primarily on leveraging blockchain for automated invoicing and payments within its freight carrier network.
Walmart has partnered with a few prominent blockchain consulting firms to streamline and automate payment reconciliation and auditing processes. Basically, the MNC is looking to boost its efficiency and reduce costs.
The utilization of blockchain software allows for increased transparency and accuracy in financial transactions, benefiting both Walmart and its freight carriers.
2. JLL
JLL is one of the leading real estate assets and management firms in the world. It is actively pursuing the potential of web3 technology.
In collaboration with blockchain development agencies, JLL is aiming to revolutionize the contract management process by enabling real-time creation, authentication, and auditing of contracts on a global scale.
By using blockchain’s decentralized nature, JLL aims to eliminate the need for intermediaries. So, JLL is eyeing more transparency and efficiency with smart real estate contracts. With blockchain, it happens to cut down costs and provide a secure and tamperproof platform for real estate transactions worldwide.
3. Aegon
Aegon, the top global insurance company, has made the decision to adopt blockchain solutions in its operation. The executives at Aegon recognize the benefits of utilizing blockchain.
By teaming up with multiple blockchain development consultants, Aegon is providing a paperless contract solution that can be easily agreed upon by multiple parties.
Aegon is said to be mitigating risks, streamlining processes, and eliminating the need for manual intervention in contract management. Blockchain is making things easy for the insurance giant.
4. BMW
BMW, the global automotive giant, has partnered with several blockchain consultancy companies to enhance customer experience and track supplies.
The automaker is leveraging blockchain technology and allied SaaS services to ensure the traceability of raw materials and components across complex global supply chains.
Experts say that BMW, by using the web3 and SaaS solution, aims to eliminate the risk of manipulation and enhance trust in the supply chain.
Additionally, BMW has also implemented blockchain applications to drive customer experience. It is said to be integrated with IoT solutions that eliminate clumsy paper works for customers buying their cars. The application can also be useful in tracking faults and driving quick remedies.
5. HSBC
HSBC has expanded its blockchain initiatives beyond payment settlements to introduce a blockchain-based custody platform. This SaaS platform, designed by top blockchain consultants, is integrated with HSBC’s banking website and allows global custody clients to directly access information about their private assets, such as equity, debt, and real estate from the real-time HSBC server.
So, clients of HSBC can now eliminate the need for manual searches of paper documents/records. They can also access their asset details faster and easier.
6. Cipla
Global pharmaceutical giant, Cipla has had a longstanding goal of enhancing transparency and traceability within its supply chain, with a focus on facilitating the efficient and secure movement of pharmaceutical products. So, Cipla is working alongside blockchain consulting experts to enhance their overall workflow management.
A significant area of focus is implementing track-and-trace solutions for Cipla’s depots, stockists, and hospitals.
These cutting-edge solutions have already streamlined Cipla’s operations and are poised to revolutionize the pharmaceutical industry.
7. Siemens
The global technology and communications giant, Siemens isn’t new to the blockchain revolution. The company headquartered in Germany has made several implementations of the decentralized ledger of the blockchain.
Recently, the company has made history by issuing a digital bond valued at $60 million.
Siemens has its own in-house blockchain team and collaborates with other decentralized ledger experts and Web3 consultants to deliver digital solutions in the vast capital and securities markets.
Blockchain-based solutions have enabled Siemens to transition to paperless global certificates and eliminate the need for a centralized authority.
Wrapping Up
Blockchain technology is still in its infancy but companies around the world are quick to capture their immense potential. It saves a lot of time, money, and effort for businesses. There are millions of established firms and startups utilizing some form of blockchain in their day-to-day operations.
If you want to stay ahead in the digital business environment, using blockchain SaaS services or web applications/software or working with blockchain technology consulting firms can prove highly beneficial.
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