The e-commerce retail market has certainly undergone dramatic changes in recent years. With consumers pivoting more and more towards making the majority of their purchases online, businesses from large to small are scrambling to attract consumers to their online platform. Recently, a sector to gain enormous traction is that of blockchain solutions. Blockchain has been a valuable asset for a number of companies from online shopping to purchasing crypto. The benefits of blockchain to enhance security and efficiency are endless. With blockchain as a service, retailers can now offer attractive promises to consumers such as improving security of payment information, enhancing the reliability of transactions, and preventing data breaches. Leading business analysts are expecting exponential growth for blockchain in retail over the next five to six years. So, who are the top players today for blockchain in retail? Without question, the following five companies are the premier players in providing retailers with blockchain solutions.
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1 Amazon Web Service Inc.
It comes as no surprise that e-commerce giant, Amazon, is leading the way in online blockchain services to many businesses. Amazon Web Service, also known as AWS, holds a significant portion of the blockchain market. Some of its leading benefits include a blockchain network that allows companies to operate faster than most of its competitors. The primary reason for its speed and ability is that with AWS blockchain services retailers are not required to have a “central authority” to oversee or manage rewards transactions, giving AWS a substantial edge over competitors.
2 IBM Corporation
Another tech giant, IBM Corporation, is leading the way in the blockchain space. IBM has a unique edge over the competition due to its ability to combine blockchain services with advanced AI technology. Currently, the New York based company has a presence in over 175 countries spanning the globe. IBM corporation’s services are almost as vast as its footprint including solutions such as cloud software, cognitive software, global technology and financing services and more. Its portfolio includes a number of reputable and large players in the retail and financial industries.
3 Oracle Corporation
Oracle Corporation is yet another U.S. based business making big waves in the blockchain solutions sector. This Texas based company specializes in three areas: cloud/license, hardware, and services. The company employs over 100,000 employees and (like others in this list) spans across the globe. Oracle initially released its blockchain platform cloud service in mid-2020. Since its release, clients have been impressed with its speed, efficiency, and high security features. Oracle’s blockchain solutions allows retailers to almost immediately processes more transactions more securely.
4 Accenture
Unlike other top companies, Accenture breaks from the crowd by not being a U.S. based company, Instead, this highly successful company is based out of Ireland and provides clients with international consulting and professional services. The company has built a loyal following by hyper focusing its efforts into five main business categories such as public service, health and finance, and more. To date, the company has reported billions in revenue. It is reported that in 2020 alone, Accenture generated over 44 billion in revenue from its business solutions and shows no signs of slowing down any time soon.
5 Auxesis Services & Technologies (P) Ltd.
Last but not least, Auxesis Services and Technologies has deservedly earned a spot in the list of top players in blockchain solutions. Auxesis is a relatively new company, founded in 2014, the company’s main focus is to further the R&D of blockchain and its impact for clients. Their efforts have not gone unnoticed and have earned the company countless awards and spots of recognition amongst analysts and their peers. The unique edge for Auxesis is its ability to let clients completely customize their blockchain needs and networks to perfectly match the demands of their business.
All in all, blockchain services and solutions are becoming an increasingly popular component of success for many retailers. The evolution and growth of blockchain is certain. The only question is, what companies will succeed in this growing market?
