Enterprise Ethereum Alliance –
Big Name Corporations Show Surprising Interest in Ethereum
What is the appeal of Ethereum to certain big name corporations? The answer may lie in the recent question marks posed over Bitcoin’s scalability and the inability of the Bitcoin community to agree on a way forward.
During weakness, people seek strength. Financial experts have long been predicting the demise of Bitcoin and other cryptocurrencies but they are here to stay and are growing stronger. Just as many other new technologies have proven detractors wrong, cryptocurrencies continue to be a secure and extremely profitable choice of investment.
In March, Bitcoin hit an all time high but when the the U.S. Securities and Exchange Commission (SEC) decided against a Bitcoin ETF, it caused a momentary collapse in price.
Now with a potential hard fork in the Bitcoin network causing possible disruption, many new entrants and existing stalwarts are increasingly looking more closely at it’s alternatives.
Why Ethereum?
Ethereum is a decentralized blockchain system that could replace more centralised third party applications and give more control back to individual creators and distribute wealth more evenly across the world.
The Ethereum system has already gone through a number of recent hard forks and provides many more alternative use cases over and above that of Bitcoin. An infinite possibility of applications can be created and run on the Ethereum network. Anything from a simple smart contract to a bank can be created on Ethereum in just a few lines of code.
While Bitcoin is showing some weakness and people doubt its future growth, Ethereum is showing the ease of deploying powerful decentralised applications.
Corporations Show Interest in Ethereum Blockchain
A new organization called Enterprise Ethereum Alliance connects Fortune 500 companies with Ethereum’s developers and founders.
Some of the giants included in this group are IBM, JPMorgan Chase, Intel, and Microsoft. All either long-standing and well-known computer, software, or finance companies.
These big name businesses are only but a few who are creating their own systems in the Ethereum blockchain.
More Interest in Ethereum contributes to its Rise
One of the reasons for the recent surge in popularity for Ethereum and its currency, Ether, is the ability to create secure Bitcoin like tokens on the Platform with ease. This has meant many ICOs utilise the token creation smart contract on Ethereum, including the potential behemoth of all with BlockChain Capital. Also other innovative platforms such as Storj have recently announced migrating their underlying technology to make use of the more flexible Ethereum system.
Ether has seen substantial growth in the last few months and more and more entities are creating applications and conducting ICOs on the Ethereum blockchain due to its ease of deployment .
This will continue to mean more mega-corporations to take note in this thriving blockchain network, and will continue to feed its growth.