- Companies like Apple, LVMH, and Disney are increasingly venturing into Web3.0
- By using a decentralized, immutable ledger, they can ensure a safe and reliable chain of information
- NFTs and the metaverse have also been a key gateway for major companies
Web3.0 is the future.
By now, anyone still in the crypto space firmly believes in that. Be it the diverse ecosystem of applications, or the infrastructure, Web3.0 is eating Web2.0 alive.
That said, we often forget to inspect the real-world applications of Web3.0 that top companies are increasingly adopting. As such, let’s take a look at top companies currently leveraging blockchain technology, and what that could mean for crypto.
1. Apple’s Blockchain Patent
A while back, Apple was spotted filing a patent application with the U.S Patent and Trademark Office for a blockchain-based timestamp verification system.
“The new time becomes part of a blockchain when a miner solves the has puzzle related to the new block holding the transaction indicating the new time.“From Apple’s Patent application
By leveraging the blockchain, Apple can secure a key component in computerized systems – timestamps.
These are responsible for keeping a verified record of information online or on a computer, including when a file was changed.
Should a hacker manipulate the timestamps – they could very well change the records for millions of users worldwide.
2. Advancing Healthcare With The Blockchain
Having clear and transparent healthcare records are of the imperative – especially in life or death situations.
Roche, a pharmaceutical company founded in 1896, has been pushing for better healthcare solutions using the blockchain.
In partnership with Hypertrust patient Data Care, they successfully developed a proof of concept “blockchain-based backbone solution to support the supply chain of personalized healthcare products.”
The blockchain is being used to improve the progress of dealing with cancer and making “immunotherapies more secure, reliable and scalable”.
Late last year, Roche also supported dHealth in creating a a decentralized data storage system to alleviate the information asymmetry in the healthcare industry.
This will give better data access to relevant parties, without the need to create specific channels for individual groups.
3. How Tesla is Pursuing Sustainability With The Blockchain
Elon Musk and his company, Tesla, are notorious for buying, and selling, almost 1 billion in Bitcoin earlier this year.
While they may have let go of their crypto holdings, Tesla is still a perpetual user of blockchain technology. In fact, they are using the ledger to ensure that their raw materials come from sustainable sources.
In it’s 2020 Impact report, Tesla showed that they were using the blockchain to track the life cycle of both Cobalt from the Democratic republic of the Congo as well as Nickel from Austalia.
These are raw ingredients commonly used in lithium-ion batteries, with which many electric vehicles are powered by.
With almost a million Teslas being produced every year, ensuring that their parts come from sustainable sources has become part of its mission.
4. The Walt Disney Metaverse
While Disney has not yet fully plunged into the world of Web3.0, it seems to have major things planned for the future.
It’s Disney Accelerator program, a yearly investment and advisory program, has chosen six companies this year that all come from the Web3.0 ecosystem.
- Polygon, Layer 2 Blockchain
- Flickplay, AR and NFT company
- Obsess, a B2B service for virtual retail stores
- Red6, AR company
- Lockerverse, Web3.0 platform for creators
- Inworld, software for interactive AI characters
By working alongside these projects, Disney has hinted at a foray into the metaverse, especially in virtual and augmented reality.
With access to IP rights from major pop-culture names such as Marvel studios and Lucasfilms, Disney may very well be the herald of the metaverse.
5. LVMH is Bringing Luxury To The Blockchain
Moët Hennessy Louis Vuitton, more commonly known as LVMH, is no stranger to Web3.0.
Just last year, LVM also partnered with Prada and Cartier to develop Aura Blockchain Consortium, “the world’s first global luxury blockchain.“
Thanks to the blockchain, they are able to verify the authenticity of luxury goods at every step of the value chain, which customers can follow. Furthermore, the lack of third-party verification heralds a new paradigm for users to get the total brand experience.
Is Web3.0 Just Another Fad For Companies?
Big brands are known for jumping on trends to capture a wider market share.
While companies may try to associate themselves with certain ideas, simply jumping on board may lead to disaster.
Instead, integrating with and identifying the ways Web3.0 can help to build a better company is of the utmost importance. Should companies manage to do this, they may eventually be the ones to bring mainstream adoption to Web3.0, and immerse the world in the wider ecosystem.
[Editor’s Note: This article does not represent financial advice. Please do your own research before investing.]
Featured Image Credit: Chain Debrief