Traditional companies are beginning to appreciate the benefits of blockchain and crypto technology, and are therefore adopting and implementing these types of developments.
Cryptocurrencies and blockchain technology have burst into society and the business worldLarge traditional companies have found in this new technology a way to innovate and implement new services and products, which allow them to improve and continue growing.
Despite the lack of clarity in regulations in the sector, large traditional companies have realized that blockchain and cryptocurrencies are a disruptive technology, which can represent a paradigm shift for the world of finance as we know it.
In this article, we want to list some of the main companies that have already moved into the crypto world.
Starbucks
La Starbucks multinational coffee company recently announced its intention to enter the web3 and adopt blockchain and crypto technology. In this case, the company intends to launch a rewards program called “Starbucks Rewards”, which seeks to emotionally engage customers through Web3.
Starbucks has also been planning to develop a brand-linked collection of NFTs that will offer exclusive benefits to users.
Netflix
Netflix has also begun to explore the possibilities offered by the metaverse, through a partnership with DecentralandThe streaming entertainment platform wants to bring the features of the metaverse to the Latin American public to promote its thriller The Gray Man.
The company has created its own world in Decentraland inspired by the plot of the film, developing a labyrinth in the style The Gray Man to bring its consumers a different and immersive experience.
JP Morgan
JP Morgan, the world's leading investment bank, began offering in October Access to Grayscale's Bitcoin ETF and Osprey Funds' ETF to its institutional clients and “high-spending” clients.
Despite initially being critical of crypto technology, JP Morgan has since changed its approach to the sector. Recently, the investment bank opened an headquarters in the metaverse from Decentraland and explained that prefer cryptocurrency investments to real estate agencies.
Blackrock
Blackrock, the world's largest asset management fund, has been one of the latest to enter the crypto world.
At the beginning of August, Blackrock signed a partnership agreement with the Coinbase exchange, with which it intends to offer its institutional clients a series of crypto services, such as the purchase and sale of assets, the signals professional, as well as third-party custody services.
For now, the association will limit itself to offering Bitcoin-related services only, although they have already explained that, in the future, the intention is to offer exposure to the entire crypto market.
Santander
Banco de Santander, one of the leading Spanish banks, said in July 2022 that they intend to Offer cryptographic services “in the coming months” through its Brazilian subsidiary, Banco Santander SA
At the same time, Banco Santander is making a strong commitment to training and innovation. Recently, a delivery of prizes in the metaverse, in which awarded the most innovative startups in the blockchain sector.
BBVA
Banco Bilbao Vizcaya Argentaria (BBVA), another of the large Spanish banks, recently launched the First regulated and registered bond on blockchain technology in SpainThis is a debt issue of 10 million euros, coming from the Inter-American Development Bank (IDB).
BBVA, together with IDB and LACChain, has created an initiative to accelerate the use of blockchain technology with an impact on development and seeks to expand the use of blockchain technology in Latin America and encourage crypto adoption.
Free market
Mercado Libre, the largest ecommerce company in Latin America, has been one of the pioneers in the adoption of cryptocurrencies and blockchain. Recently, Mercado Libre has launched its own token, Coin Market, which can be used on the platform to purchase products and to return purchases.
In May 2020, Mercado Libre followed in the footsteps of other companies, such as Tesla or MicroStrategy, and bought Bitcoin worth $7 million, while its CEO claims that Bitcoin is “better than gold”.
Jack Dorsey, former CEO of Twitter, is a well-known Bitcoin maximalist. In fact, his new company, The Block, is dedicated to development of blockchain and crypto technologies, going so far as to express that he is working on web5.
Before leaving the company, Dorsey worked for implement crypto functionalities, such as the ability for users to receive donations in Bitcoin, through the “Tip Jar” functionality. In February 2022, with Dorsey out of the company, Twitter implemented a functionality for users to Send and receive payments on Ethereum using their addresses.
The social network also implemented a feature so that users can use their Ethereum NFTs as profile pictures.
In early August, Instagram, the Meta-owned social network with more than 1.200 billion users, added Native support for NFTs by implementing the Flow blockchain.
This initiative seeks Offer artists and developers new ways to monetize their creationss. Instagram users can upload and share any type of art, including images, videos, music, and NFT trading cards. For now, this functionality is limited to US creators, but Meta aims to expand this functionality to everyone.
A
Google's parent company Alphabet has positioned itself as The company that has invested the most in blockchain and crypto.
The parent company of Google has invested more than 1.586 billion dollars in four companies in the Web3 and blockchain sector. Among the companies in which Alphabet has invested are ConsenSys, dedicated to the development of Web3 infrastructure, Fireblocks, a company that offers multi-platform computing (MPC) services, and Dapper Labs, a studio dedicated to the development of NFT games, such as NBA Top Shot.
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