The Undeniability of Ethereum’s Global Adoption: Over 200 Banks, Dozens of Billion Dollar Companies Involved
The second largest digital currency by market cap ‘Ethereum’, which is known to run smart contracts through its decentralized system as well as its support for decentralized applications has become unstoppable.
Ethereum is one of the few digital assets with real world applications and adoption. It also has the largest number of crypto solutions and projects built on its blockchain.
Real World Applications Of Ethereum
It is reported that more than half of the billion dollar companies listed in Forbes “Blockchain 50: Billion dollar babies” list are developing applications either based on Ethereum, or its derivatives.
The Ethereum blockchain is claimed to be used by 24 firms on the list, Microsoft being one of them, which offers EBaaS (Ethereum blockchain as a service) on Microsoft Azure, after they partnered with ConsenSys four years ago.
This incorporation has allowed enterprise customers and application developers gain access to blockchain development platform, which is cloud based and provides access to tools which aid in the development of smart contract based applications.
Impact Of The Flexibility Of Ethereum
As a result of the large adoption of Ethereum and how flexible it is to application developers, a large amount of applications that are based on Ethereum have been created and tested, making Ethereum the most developed digital asset on blockchain till date.
The recent rollout of free applications running on the public Ethereum network for Ernst and Young’s corporate customers is another noteworthy adoption of Ethereum after the Microsoft Azure.
Ernst And Young’s Adoption Of Ethereum
Ernst and Young is a professional services company that developed an application for its corporate customers with the aim of using the Ethereum blockchain. Some of its biggest clients include:
So, it is very clear that Ethereum is globally becoming the top dog in enterprise blockchain technology, and will be close to impossible to stop at this point.
Banking Industry Adoption Of Blockchain Technology
Ethereum has not only been adopted by some of the world's largest companies, it has also been introduced to over 200 banks globally, through one of its versions ‘Quorum’, which is enterprise focused.
These banks has joined the IIN (Interbank Information Network), the authorized Ethereum variant by JP Morgan which is Quorum powered.
Ethereum is gaining massive global popularity across all sectors including the traditional baking industry. So, it shows no sign of stopping anytime soon, and remains at the top of the industry regardless of what some crypto critics may say.