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While cryptocurrency may have been the application that brought people blockchain for the first time, recent crashes in digital currencies have wondered if blockchain technology has other practical applications. We asked three of our contributors to look for signs that the blockchain has a life beyond an alternative form of money. They indicated raids made by Amazon.com (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT), is IBM (NYSE: IBM) in blockchain-enabled technologies and indicated that companies might be worth looking at as a result.
Image source: Getty Images.
This pioneer of retail is also a technology giant
Todd Campbell (Amazon): Best known for dominating the e-commerce market, Amazon also has a huge technology services business that benefits from the growing adoption of blockchain solutions by its corporate customers.
Amazon Web Services (AWS) is an extension of the computing power that Amazon needs to manage its e-commerce business, but in recent years has become one of the biggest stars of technology.
To keep the demand for IT services coming soon, Amazon has launched blockchain offers that allow companies to use models to create large blockchain platforms that can be easily integrated with other popular IT tools offered by Amazon. It also leverages its AWS Partner Network (APN) to connect customers with partner companies with the know-how of the distributed register.
Amazon's blockchain case studies range from helping farmers manage data in the field, exploit technology to improve health care, improve the way people vote in Lugano, Switzerland, manage supply chains.
The e-commerce giant already has a lot of business for AWS – sales grew 46% year-over-year in the third quarter and its operating profit overshadowed $ 2 billion – but blockchain blocks could still help it to attract more customers and expand existing relationships, making it a blockchain stock must own investors.
The amazing Mister Softee
Keith Speights (Microsoft): Having dominated the PC software industry since the 1980s, Microsoft has lost favor with investors for much of the 21st century. Someone might have seen Microsoft, whose nickname is "Mister Softee" because of his stock symbol, like an old fuddy-duddy. But Mr. Softee brought some surprises, including his ability as an emerging leader in new technologies like blockchain.
Microsoft's Azure cloud computing service was the first to link the blockchain to the cloud. The technology giant has also, without too many fanfare, connected its blockchain services to a growing number of applications, including its Office 365 Outlook and Sharepoint Online, as well as other applications belonging to other companies such as salesforce.com is chirping.
Blockchain is just one of the reasons why Microsoft is a title to keep an eye on now, though. The company, already one of the leaders in the field of artificial intelligence (AI), has strengthened its artificial intelligence portfolio with a couple of major acquisitions. More recently, Microsoft bought XOXCO, a small artificial intelligence start-up that developed the first commercial chatbot on Slack and a suite of development tools.
Despite the market turmoil, Microsoft has achieved quite satisfactory results until 2018. With its focus on leadership in technologies such as artificial intelligence and blockchain and its solid dividend, I think Mr. Softee could offer pleasant surprises to investors in the future.
Money talks – and you still have to eat
Chuck Room (IBM): The IBM technology title has suffered in recent years as its traditional business lines have eased over time. Big Blue has worked to replace these revenues with emerging technologies such as artificial intelligence and blockchain. While at company level it takes time to transform a giant giant like IBM, the company's drive towards the blockchain is definitely focusing on key areas such as finance and food.
For example, IBM has recently launched blockchain services behind CLSNet, which is automating settlement and commercial clearing processes for foreign currency transactions. If you've ever done business, traveled or invested internationally, you know the additional costs and complexities associated with currency conversions. Better by automating and bringing blockchain transparency to that currently manual and rather opaque process, there is a good chance that liquidity will improve and that costs will decrease.
In addition, IBM is making a big blockchain bet in the food industry with its "Food Trust" service. The vision behind this service is greater transparency and accountability throughout the end-to-end supply chain. The benefits envisaged for you as a consumer include greater reliability in the way your food was produced and managed from the source to the store. From the manufacturer's point of view, the costs of recalls and waste could decrease, as problems and their causes become faster and easier to spot.
Money and food are two of the cornerstones of modern life all over the world. While it will take time to see these services grow, if IBM's blockchain solutions keep their promises of lowering costs and improving transparency, they could lead to huge winnings for the company. IBM's transition to its new business model takes time, but it is certainly worth looking at now to see if it can generate value from its blockchain investments for that critical infrastructure.
John Mackey, CEO of Whole Foods Market, a subsidiary of Amazon, is a member of the board of directors of The Motley Fool. Teresa Kersten, a LinkedIn employee, a Microsoft subsidiary, is a board member of The Motley Fool. Chuck Saletta owns Microsoft shares. Keith Speights has no position in any of the stocks mentioned. Todd Campbell owns shares in Amazon, Microsoft, Salesforce.com and Twitter. Motley Fool owns shares and recommends Amazon, Salesforce.com and Twitter. Motley Fool owns Microsoft shares. Motley Fool has a disclosure policy.
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