United Nations Is Among New Entrants in Forbes’ 2nd Blockchain 50 List

Published at: Feb. 20, 2020

Newly released Blockchain 50 list by major finance publication Forbes features some new entrants like major international association, the United Nations.

Shortly after including six blockchain-focused firms into its Fintech 50 list last week, Forbes has released another compilation of 50 global enterprises actively embracing blockchain technology.

Newcomers include the United Nations, China Construction Bank, Square and others

Published on Feb. 19, the new Forbes’ Blockchain 50 list is the second release of its annual Blockchain 50, which was first introduced in April 2019. Similarly to last year’s edition, the new compilation includes industry giants like Amazon, Microsoft, JPMorgan, Google, as well as cryptocurrency-focused firms like Bitfury, Coinbase and Ripple.

At the same time, about half of the firms on the list are newcomers, including the UN, the world’s second-largest bank China Construction Bank, Russia’s National Settlement Depository, and Square, a mobile payment company founded by Twitter CEO Jack Dorsey.

As reported by Cointelegraph, UN secretary-general António Guterres declared last year that the organization must embrace blockchain technology. The official said:

“For the United Nations to deliver better on our mandate in the digital age, we need to embrace technologies like blockchain that can help accelerate the achievement of Sustainable Development Goals.”

Forbes believes that Blockchain 50 members moved from focusing on theory to generating real revenues

According to Forbes, this year’s members have significantly moved beyond the theoretical potential of blockchain technology to generating “very real revenues and cost savings.” As such, Amazon’s blockchain product, Amazon Web Services, was implemented by major global food and beverage company Nestlé to launch a new coffee brand known as Chain of Origin, Forbes noted.

Michael del Castillo, Forbes staff writer who covered the first Forbes’ Blockchain 50 list in April 2019, outlined that blockchain has enabled big global firms to process complex tasks in a much easier way. He said:

"Blockchain started as a way to move bitcoin from point A to point B but it is now being used by a host of big companies to monitor and move any number of assets around the world as easily as sending an email.”

In conjunction with announcing the new Blockchain 50 list, Forbes also announced that it will be hosting its first Blockchain 50 to honor the newest 2020 list members in March 2020.

On Feb. 12, Forbes released its Fintech 50 list, featuring the “most innovative fintech companies” in 2020. As reported by Cointelegraph, the list included six blockchain companies such as Axoni, Chainalysis, Coinbase, Everledger, MakerDao and Ripple alongside payment-focused firms like Plaid, Opendoor and Lemonade. In mid-January 2020, Plaid was acquired by payment giant Visa for $5.3 million.

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