Ethereum uses Blockchain technology and involves complex applications with a strong background in coding, mathematics, and cryptography.
It is an affiliate of Bitcoin, the most substantial cryptocurrency in the tech market. Over the past years, there has been a significant revolution in technological advancement, with frequent applications of online platforms such as digital currencies and voting.
Ethereum is making this process possible, through the provision of tools for developers for creation of decentralized applications.
Our world is positively transforming into a digital platform. It is at this age that digital currencies are widely accepted as a mode of payments in most physical and online stores in the United States. According to Fortune magazine, the following significant companies are using Ethereum as their Blockchain technology.
It is considered the most significant shipping company in the whole world. This cryptocurrency has been crucial in sending trillions of dollars’ worth of products all over the globe.
Currently, the firm accounts for 15% of the global shipping. This application has been ideal for cutting costs by reducing the expensive paperwork and instead replaces it with Blockchain technology.
Other applications of the cryptocurrency.
- Reducing the risks of fraud- decreasing the possibilities of wrongly labeling products considering that there are numerous shipping companies all over the world.
- The provision of empty containers within your locality. It will provide information on the available and empty containers in real time
The most significant consumer company has gone crypto. It is perceived as the first consumer store to accept payments through Ethereum and Bitcoin through their partnership with Bitcoin in 2014.
According to a report released by Business Insider, Patrick Byrne, the firm’s CEO confirmed that it would convert 5% to 10 % paid Bitcoin accepted for reserves.
With the incorporation of this coin currency with overstock.com, the company would have witnessed an appreciation of those reserves lately.
The famous company manufacturing SUV trucks accepts the payment of their vehicles with Ethereum. According to the Elon Musk, CEO of Tesla, the firm has added their cars to the Ethereum platform. This ingenious move is accompanied with various reasons to Tesla. It includes the following;
- Provision of a parking lot anywhere in the globe
- Availability of electricity from independent Megachargers apart from Tesla’s
- Cleaning services
- The reduction of fraud especially when purchasing a fleet of trucks
Tech Giant Microsoft has embraced the use of Ethereum with both hands. Microsoft enthusiasts are currently buying content in Xbox and Windows stores. The tech company has unveiled the Confidential Consortium dubbed “CoCo,” an Ethereum prototype which enables organizations and commercial firms to process information on the Ethereum Blockchain platform with absolute privacy.
This Blockchain technology will be efficient in the operations of Microsoft as follows;
- Enhances the processing of large amounts of data at a click
- Provision of off-chain scaling resolutions
The giant software company that launched QuickBooks and TurboTax (software that is crucial in filing tax returns) accept the adoption of Ethereum as their mode of payment.
According to The Business Insider, Bitpay and Intuit have confirmed the incorporation of Bitcoin and its affiliates into their payment systems including the PayByCoin service.
This Blockchain technology service is currently available for free to Intuit clients that utilize QuickBooks on the internet to develop electronic invoices for their customers. There are two alternatives to receiving payments, and it can either be through the USD or BTC. The advantage is that customers will not incur any additional costs apart from the standard 1% operational cost levied by Coinbase.
With the world currently accepting the positive use of cryptocurrencies, payments are instant, and delivery of goods and services is efficient. Furthermore, security is enhanced with the use of private keys and the integration of investigating bodies such as FBI in the crypto world. For sure, you will receive more in the field of coin currency.