The blockchain industry is booming and it’s only getting bigger. The blockchain market size is expected to reach $67.4 billion by 2026. This is due in part to increased investment in the technology, extensive use of blockchain solutions in banking and cybersecurity, as well as high adoption of blockchain solutions for payment, smart contracts and digital identities.
And more than 90 percent of European and U.S. banks are researching blockchain options. The technology can revolutionize government, finance, insurance and personal identity security, among hundreds of other fields.
We’ve rounded up interesting examples of companies using blockchain. While some can be categorized as fundamentally blockchain companies, others are familiar names embracing the new technology.
Top Blockchain Companies
- Coinme
- Chainanalysis
- Coinbase
- BlockFi
- IBM
- ConsenSys
Blockchain Companies to Know
Location: San Francisco, California
Coinbase is a digital portfolio that lets users buy and sell cryptocurrency. The company’s technology makes buying and managing cryptos easy with features like recurring buys and vault protection. Since 2012, Coinbase has seen over $300 billion exchanged by more than 98 million people.
Location: Seattle, Washington
Coinme has set out to break down barriers by teaming with Coinstar to form a nationwide network of Bitcoin kiosks that accept cash investments and allow users to store investments via the Coinme app — making it easier for people to improve their financial lives and begin investing in Bitcoin and other cryptocurrencies.
Location: Chicago, Illinois
DRW is a trading firm with a global presence. The company expanded into cryptoassets with the 2014 launch of its subsidiary Cumberland, which seeks to provide reliable liquidity that contributes to sustainable market growth. Institutional investors working with Cumberland benefit from access to relationship managers, electronic trading solutions and extensive expertise in risk management and technical analysis.
Location: Armonk, New York
Founded in 1911, IBM is a cloud platform and cognitive solutions company — it’s also the largest company in the world embracing blockchain. IBM has helped more than 220 businesses develop applications and data governance tools that run on blockchain.
Location: San Francisco, California and New York, New York
Lemonade combines artificial intelligence and blockchain to help users receive renters and homeowners insurance at reasonable rates. The company uses AI to create the optimal flat-fee rate for an insurance-seeker, then its blockchain-based smart contracts help to lock a user into a payment agreement. By using blockchain, Lemonade is able to approve insurance claims and payouts within minutes, rather than days.
Location: Jersey City, New Jersey
Founded in 2017, BlockFi is a fintech company using cryptocurrencies and blockchain payment rails to create a crypto management platform. BlockFi provides crypto-backed loans, interest-bearing accounts to store crypto assets and the world’s first crypto rewards credit card. The company’s platform also serves as a crypto wallet and trading account.
Location: Sherman Oaks, California and Seattle, Washington
Mythical Games is a studio creating games and online experiences that feature true ownership of digital assets. The creation of a secondary digital economy, based on a blockchain, helps to verify scarcity and create a clean record of ownership over unique digital items. Mythical Games’ first blockchain-based game, Blankos, was released in December 2020. Players can compete in races and shooting minigames as well as earn and buy playable NFTs.
Location: Boston, Massachusetts
Algorand makes digital transactions a common convenience by allowing companies to complete smart contracts with simple code while securing their blockchains with trustless technology. The company offers a pure proof-of-stake foundational blockchain. This goes beyond the traditional requirement of an open, public network by enabling a set of high performing Layer-1 blockchains that provide security, scalability, complete transaction finality built in privacy, Co-Chains and advanced smart contracts that are essential to the digital asset ecosystem.
Location: Fully Remote
It’s common to think of Bitcoin as just another form of currency, but it’s actually a blockchain: a decentralized digital public ledger, which in addition to its use as currency can also serve as a base for a decentralized internet architecture. Hiro Systems makes tools for web developers to use in building this new version of the internet within the Stacks Ecosystem, a decentralized group of independent developers.
Location: San Francisco, California
Fintech company Cash App initially began as a peer-to-peer payment platform. Since its founding in 2013, it has expanded into becoming a place where users can buy and sell bitcoin. Since all bitcoin lives on the Bitcoin Network blockchain, these exchanges are powered by bitcoin technology. Users can keep their bitcoin on Cash App and feel secure in the company’s many security features including encryption and fraud detection technology.
Location: Menlo Park, California
Robinhood is a stock brokerage app that lets users buy and sell stocks, ETFs and cryptocurrency. The fintech giant entered the blockchain realm by letting customers invest in everything from Bitcoin to Litecoin. With more than $500 million in funding, Robinhood is one of the major financial players currently embracing blockchain.
Location: Fully remote
Chainlink is a Web3 services platform that makes it easy for developers to build their own Web3 applications. Its technology, which has enabled trillions of dollars’ worth of value, connects real-world data and computation with blockchains, and makes different blockchains — both public and private — interoperable with each other. Chainlink Web3 services are used by protocols like Aave, Synthetix and MakerDAO, and the company has established partnerships with tech industry players including Amazon Web Services, Google Cloud and Meta.
Location: New York, New York
Chainalysis works to improve trust across the blockchain ecosystem by providing banks, government agencies and others with services, software and data crucial to blockchain acceptance. The company’s investigation and compliance software helps institutions identify and disallow hacked and stolen funds and has been instrumental in solving many of the world’s most high-profile cybercriminal cases, making blockchain access safer and more accessible.
