Top Enterprise Blockchain Solution Providers

An “enterprise blockchain” is a type of permissioned blockchain that can be used to optimize enterprise processes at scale, like tracking goods in the supply chain or reconciling payments across the globe. Enterprises find that this type suits their needs better than public blockchain networks, as they can limit how visible their data is to a selected group of individuals.

How is Enterprise Blockchain Different than the Other Types?

The vast majority of enterprise blockchains are “permissioned blockchains,” meaning that companies directly control them. For example, they may block transactions that are inconsistent with their rules or do so if requested by law enforcement.

This is one of the biggest differences that sets permissioned ledgers apart from public ones, such as the one that Bitcoin is built upon. Public blockchains exist outside of any single company or government and are immune to censorship. This is why Bitcoin and other cryptos have been used successfully to evade international sanctions, or even fight back against cases of extortion at home.

Main Characteristics of Enterprise Blockchains

  • Accountability: Every node on a network — each holding a copy of transaction history — is known by everyone, and can be held accountable for their actions. For instance, it is common for corporate blockchains to be shared between multiple companies or financial actors in a collaborative format.
  • Permissioned: Only users with permissions are allowed to use the blockchain. The network owner(s) get to decide who is allowed to use it, and who is not.
  • Mutable: If all of the entities managing the network agree, data can be changed.
  • Scalability: Because corporate blockchains are generally less decentralized than bitcoin, they can easily support multiple transactions on a basic level.

Top Companies Providing Enterprise Blockchain Solutions

1. Accenture:

Accenture, the IT giant has been recognized as the number one enterprise blockchain service provider in 2021 by an industry analyst firm HFS Research. Accenture’s blockchain services help companies leverage the power of blockchain through practical applications by leading distributed ledger leaders.

“Our position in this HFS report reflects the strong combination of Accenture’s deep technology expertise coupled with robust ecosystem and industry consortium relationships, along with a top-notch global team dedicated to solving our client’s complex business challenges,” said David Treat a senior managing director who leads Accenture’s Tech Incubation Group. “Our continued investments in emerging technologies and professional development are critical priorities for us as we strive to create new value for clients worldwide.”

About Company:

  • CEO: Julie Sweet
  • Revenue: 5,053 crores USD (2021)
  • Headquarters: Dublin, Ireland
  • Founder: Clarence DeLany
  • Number of employees: 7,10,000 (2022)
  • Founded: 1989, Hamilton, Bermuda

Blockchain Expertise:

  • Blockchain for supply chain
  • Financial services infrastructure
  • Blockchain for social impact
  • Decentralized digital identity

Also Read: Top Blockchain Development Companies to watch in 2023

2. IBM

ibm logo

IBM Blockchain is the #2 name in this list, and the New York-based IT giant was named by global research firms as the number one vendor of blockchain solutions for enterprises in 2020. Industry leaders in the supply chain, healthcare, insurance, financial services, government, retail, media & advertising, oil and gas, telecom, and manufacturing sectors are using IBM Blockchain to reduce friction, create trust, and unlock new value.

About Company:

  • CEO: Arvind Krishna
  • Headquarters: New York, United States
  • Founder: Charles Ranlett Flint
  • Revenue: 5,735 crores USD (2021)
  • Founded: 1911, New York, United States
  • Number of employees: 2,82,100 (2022)

Blockchain Solutions:

  • Blockchain solution for Healthcare
  • Blockchain solution for Supply chain
  • Trade Finance and Digital Assets
  • Vaccine distribution
  • Digital Identity and Credentials

3. EY

EY( Ernst & Young Global Limited) is one of the largest professional services furnishing companies in the world. This London- grounded transnational company is considered one of the Big Four accounting enterprises. EY steps into blockchain technology in 2017, its blockchain results support the complete business lifecycle from constricting, ordering, fulfilling, and invoicing, to payments – from doing business on a blockchain to getting sapience into what happens on the blockchain. EY brigades also know how to manage the tax and audit requirements for blockchain-based transactions, so companies can handle the nonsupervisory and tax complexities of an emerging ecosystem.

Paul Brody, EY Global Blockchain Leader, says: “This technology is perhaps the most important EY blockchain milestone in making public blockchains scalable for the enterprise. In the prior iteration released in April 2019, public blockchains were already getting competitive with private networks. With this iteration, we cut the cost per transaction by more than 90% again, making private transactions more accessible for mainstream business applications.”

About Company:

  • CEO: Carmine Di Sibio
  • Headquarters: London, United Kingdom
  • Revenue: 4,000 crores USD (2021)
  • Number of employees: 3,12,250 (2021)
  • Founded: 1989, England, United Kingdom
  • Chairperson: Carmine Di Sibio

Blockchain Solutions:

  • Blockchain for Public Finance
  • EY OpsChain Contract Manager
  • EY Blockchain Analyzer: Smart Contract & Token Review
  • EY OpsChain Traceability
  • EY Blockchain Analyzer: Reconciler
  • EY Blockchain Analyzer: Tax Calculator
  • Blockchain consulting services
  • Audit innovation
  • Supply chain reinvention

4. Chain

Chain is one of the leaders in enterprise blockchain solution providers, it provides blockchain cloud infrastructure and web3 solutions to financial institutions & startups. Its cryptographic ledger systems are designed for financial institutions to make them more secure, smarter, and more connected. Based in Charlestown, Chain has raised over $40 million in funding from Khosla Ventures, Pantera Capital, Capital One, Citigroup, Fiserv, Nasdaq, Orange, and Visa.

Chain has a global client base, they develop financial products for market leaders like Visa, Nasdaq, and Citigroup as well as some notable fintech start-ups.

“There is an app or an open-source code for almost everything, so it is not often you find companies doing anything new in the tech or software space.” Deepak Thapliyal explains. “Most times, the only options we are left with is to move around a few things, include new features, or refresh our approach to make it seem fresh or to make it relevant to a new group of people.”

However, according to Deepak, innovation thrives best within a very niche area. In his words, “In an accelerated market like in the blockchain space where innovation is rife, innovativeness that differentiates firms within a niche is rewarded much more than innovativeness that differentiates across niches. The strongest firms are those who adopt new technology without changing niches.”

About Company:

  • Founded: 2014
  • Headquarters: Charlestown, KN
  • CEO: Deepak Thapliyal
  • Employees: 50+
  • Fund Raised: $40 million

Blockchain Expertise:

  • Blockchain Solutions
  • Distributed Systems
  • Cryptography
  • Operating Systems
  • Capital Markets
  • Payment Solutions
  • Financial Services
  • Custom Banking Software
  • Distributed Ledger Technology

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