Despite 2022’s crypto market collapse, writes Forbes, dozens of enterprises around the world are still investing in blockchain, the distributed-database technology that underpins the entire sector because it helps their businesses operate better, faster or cheaper.
Crypto is in the toilet, Forbes asserts. Even after a January rally that saw prices jump by a third or more, the cryptocurrency market is still down 38% over the last 12 months, wiping out some $630 billion of wealth. Faddish bits of the market, like NFT digital collectibles, have done even worse. Prominent prophets like Sam Bankman-Fried have been exposed as incompetent at best, criminal at worst. Despite it all, dozens of enterprises around the world are still quietly investing in blockchain, the distributed-database technology that underpins the entire sector. These mostly big, mostly smart firms aren’t throwing good money after bad. They’re doing it because blockchain helps their businesses operate better, faster or cheaper.
Notable among the listed are organisations as varied as Walmart, Warner Music Group, Société Générale, Oracle, Repsol, the US National Basket Association, and Estée Lauder Companies.
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