The Rise of Enterprise Blockchain

Enterprise blockchain began its ascent like a dog on a leash—slow and cautious. But since 2017, when Bitcoin flexed its digital muscles and hit nearly $20,000, businesses realized that this technology wasn’t just for the teenage cryptocurrency day traders anymore. Fast forward to today, and enterprise blockchain is proving to be the unsung hero for companies grappling with complex supply chains and data security.

Transformation Amidst a Pandemic

The year 2020 was like a roller coaster ride without seatbelts, and the COVID-19 pandemic acted as the unexpected rollercoaster operator. It sparked a surge in enterprise blockchain use cases, paving the way for public networks that previous corporate minds would have scoffed at. Businesses have pivoted, using blockchain not only for supply chain transparency but also to ensure proof of health certificates, thus attempting to revive the tourism sector. It was the advent of pandemic-proof blockchain measures that made us all realize we could actually track something more significant than pizza delivery.

Top Players in 2021 Blockchain Revolution

Here’s a line-up of some companies that are playing hardball in the enterprise blockchain arena:

• Ernst & Young: They started exploring blockchain back in 2016. Now, they’re the cool kids on the block, pushing for ZApps—zero-knowledge applications that may just make developers’ lives a whole lot easier.
• IBM: Known for its robust blockchain platform powered by Hyperledger Fabric. IBM’s collaboration with major food producers like Nestlé is a big deal—because nobody wants a mystery meat situation.
• Hedera Hashgraph: This public network isn’t just for show. Its SAFE HealthCheck app is saving lives—literally. Forget waiting in line for a COVID-19 test; this is where convenience meets high tech.
• PayPal: After dipping its toes into the blockchain waters, PayPal is now all in, allowing U.S. users to trade and shop with cryptocurrencies, paving the way for a new age of digital payment.
• Salesforce: Their blockchain platform is like the nerdy kid in school who became president, helping businesses connect the dots for better customer engagements.

Building Blocks for Better Futures

Looking ahead, many of these organizations aren’t just resting on their laurels, cherishing their existing blockchain projects. They are investing time to make their solutions easier to deploy. For instance, EY is aiming to untangle the complexities of using zero-knowledge proofs, and IBM is waving a giant flag for health verification technologies. With players like JPMorgan producing practical solutions like the JPM Coin, the narrative around blockchain has shifted from “What is it?” to “How can we use it?”

Conclusion: The Future is Blockchain

So where do we go from here? Can enterprise blockchain really be the cavalry that rescues large corporations from the pain points of data silos? Only time will tell. But given the strides we’ve seen, it’s safe to bet that by 2025, blockchain will be like Wi-Fi—expected, essential, and totally taken for granted as it silently runs in the background of our interconnected, digital lives.