Blockchain Initiatives by Fortune 100 Companies Increase 39% in One Year

As the usage area of ​​blockchain technology, which is identified with cryptocurrencies, expands, the adoption rates of innovations such as blockchain and Web3 on an institutional scale also began to increase on a quarterly basis.

A study conducted in the US revealed that blockchain and Web3 projects carried out by companies on the Fortune 100 list, which ranks the world’s largest companies, increased by 39% in the second quarter of 2024 compared to the same period of the previous year. On the other hand, the data showed that seven out of 10 small business owners think that crypto can help relieve at least one of the financial difficulties such as transaction fees and transfer times.

Sharing his evaluations on the subject, OKX TR Chairman of the Board Mehmet Çamır said, “Especially leading companies in the financial sector are adopting blockchain technology and crypto. This encourages innovation in the sector.”

Three of the top 5 companies are running blockchain projects

In the research conducted with Fortune 500 companies, 56% of the executives working in these companies said that their companies were working on blockchain-focused projects.

Mehmet Çamır, who also drew attention to the fact that there are payment applications that directly appeal to the end user among these projects, said, “Corporate adaptation is increasing in many countries. The role of spot Bitcoin ETF, the first example of exchange-traded funds based on crypto assets, cannot be denied in this increase. The convenience provided by global payment services in international payments with stablecoins is being adopted by corporate companies. On the other hand, bonds that have started to be transferred to the blockchain through the tokenization of real-world assets (RWA) signal that this market will also create great potential in the future. It is expected that the tokenized asset market will reach 16 trillion dollars by 2030, which is equivalent to the size of the gross domestic product of the European Union.”

“Blockchain is turning into a strategic asset and competitive area”

According to the report, Fortune 500 executives believe that accessing talented and reliable blockchain developer talent is a greater barrier to adoption than regulatory uncertainty.

Mehmet Çamır, who said that the number of blockchain and Web3 developers a country has become an indicator of economic power, said, “While countries consider keeping Bitcoin as a reserve, blockchain is turning into a strategic competitive area in the context of technology dominance in every field. Even small businesses are considering employing at least one employee who understands crypto in roles such as IT, finance, and technology.

On the other hand, approximately one in two people think that crypto will increase the accessibility and inclusiveness of the financial system and ensure active participation of those who cannot benefit from bank services in the financial system. All these topics play an important role in the development and progress of countries,” he said.

“The law will also unlock innovation in Turkey”

OKX TR Board Chairman Mehmet Çamır, who said that our country is also moving with steps based on global adoption trends, concluded his evaluations with the following statements: “As OKX TR, which carries the global vision of the well-established global cryptocurrency exchange and Web3 technology company OKX to Turkey, we support the use of blockchain beyond finance and the sectors to benefit from groundbreaking technologies such as blockchain and Web3. Our country has also prepared the ground for such developments with the cryptocurrency law that went into effect on July 2. A good start will bring about the formation of a much more advanced legal framework with secondary regulations. While crypto and blockchain become one of the strategic competition areas, Turkey will also become one of the leading countries in the region in terms of blockchain and Web3 innovation with clear, precise, constructive legal frameworks. As OKX TR, which has been adopted by the Turkish crypto community in a very short time and has made its name among the most downloaded finance applications, and enables easy cryptocurrency trading with TL transaction pairs, we plan to actively participate in all forward-looking steps of the industry in this market where we are permanent.”