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A lot of firms are deploying blockchain technology to improve their performance despite the fact that the technology has not gotten wide acceptance.

While fintechs are mostly trying to be afore of any other sector, the importance of blockchain technology is beyond mere acceptance in the financial world. However, in there is where the technology widely adopted and put it full implementation.

Big firms clamour for a better technology, but most of them have not find it important to quickly look into. In this wise, the wide acceptability is still very small and requires more time. Despite, some firms can expedite the long awaited massive adoption of blockchain technology, and take it to the new level. Below are two firms:

Facebook (NASDAQ:FB) Billion Of Voices In A Single Platform

Early this year, Facebook announced it will be going into blockchain technology to explore opportunities and proffer solutions to some problems that deter people from completely trusting the technology. Moments after, Facebook started clamping down on ads related to cryptocurrency, and the whole social media was taken aback. The romance that Facebook earlier promised then appeared to be something else.

Then months after, some days back, Facebook (NASDAQ:FB) created a section for blockchain in his firm. The development, according to analyst is the most massive shakeup since the history of the company because it changed roles of notable experts in the company.

Importantly, David Marcus, the head of Messenger, and an elsewhile PayPal president and Coinbase board member, who has been working for Facebook for four years is now in charge of everything blockchain in the firm. He’s to set up a group of who will explore blockchain opportunities across Facebook.

“After nearly four unbelievably rewarding years leading Messenger, I have decided it was time for me to take on a new challenge. I’m setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch,” David said in a Facebook post.

If Facebook looks into blockchain technology, there is tendency it preaches for its massive adoption with the billion users across its platforms.

While it is not clear what Facebook (FB) will be deploying the tech for, there are many a number of use cases that the firm can generate with time. One is in transaction via the platform which is largely dependent on fiat currency.

And another is using the technology to solve behind the scene problems. In Marcus world, intends to start looking into blockchain technology “from scratch”, however, with all indication, the firm may expedite the research due to the new section it just created.

Microsoft (NASDAQ:MSFT) Is Undoubtedly Going To Help

Now that Microsoft (MSFT) is looking into deploying blockchain technology, and even in helping developers have a nice environment for the technology, there is potential for massive adoption aftward. On Monday, Microsoft showcased wave of AI Development Services and Blockchain Workbench for developers. One of the deployed tool is the new Microsoft Azure Blockchain Workbench, which experts say it is a nice environment for developing blockchain applications.

Satya Nadella, CEO, Microsoft (NASDAQ:MSFT), said “The era of the intelligent cloud and intelligent edge is upon us”.

“These advancements create incredible developer opportunity and also come with a responsibility to ensure the technology we build is trusted and benefits all.”

With Microsoft and Facebook’s readiness to help in researching use cases of blockchain, there is hope that the long-awaited massive adoption is on the way.

 


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This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.
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