Enterprise blockchain started gaining traction in 2017 shortly after Bitcoin had reached its all-time high of nearly $20,000. Since then, enterprise blockchain has mainly been defined by private blockchain networks used by businesses for things such as supply chain management.
The enterprise blockchain space has changed quite a bit since 2017. For instance, 2020 has brought in a number of enterprise blockchain use cases that leverage public networks rather than private ones. The COVID-19 pandemic has also driven many companies, both large and small, to use blockchain for guaranteeing proof-of-health or to revive tourism. Finally, some blockchain companies this year have started showing an interest in decentralized finance, taking steps to drive this new sector.
Listed below are a total of 12 companies and solutions that have made strides in the enterprise blockchain space this year.
Ernst & Young
Big Four firm Ernst & Young has played an active role in enterprise adoption. The firm was one of the first to explore the cryptocurrency space in 2016 when the company conducted a survey to better understand the potential of digital assets. Since then, EY has been leading the way for public enterprise blockchain adoption.
For example, EY continues to contribute to the development of the Baseline Protocol, which uses the Ethereum public mainnet as a tamper-resistant state machine to record business data. In May 2019, EY open-sourced its Nightfall code for conducting private transactions on the Ethereum blockchain.
Moving forward, EY plans to make Nightfall and zero-knowledge proofs easier to use for developers. Paul Brody, blockchain lead at EY, previously told Cointelegraph that developers will eventually shift from building decentralized applications to creating zero-knowledge applications, or “ZApps,” with EY’s blockchain solutions.
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