FAANG Stocks Companies and Blockchain technology: Are they late to the Party?
Their shares are called FAANG Stocks - Facebook, Amazon, Apple, Netflix, and Google (aka Alphabet). They should be the best players in the tech game, but it seems that they are late to the Blockchain Party...
Why am I saying that? Because FAANG companies (in total) own only 11 Blockchain patents in the US of A.
Whilst IBM owns 27!
Individually, Google and Amazon hold both 4 patents which means they are still being beaten by the likes of Dell (9), Intel (6), Sony (5) and also Verizon (5).
Apple (2), Facebook (1) and Netflix (0) didn't even make it to the Tech TOP 10.
PS: Even though data from Envision IP are from 2018, they are not showing all of the patents. The fact of the matter is many US patent applications will become public only after a year and a half...
I don't believe they are late to blockchain - I think that blockchain is not applicable to their core competencies. The further I study about blockchain technology the fewer vital applications I see in these early days.
Additionally, if some developer team or blockchain/cryptoasset has developed a valuable solution, I believe it will play out similarly to how IP has gone for a long time. Those groups or their technology will be leased or acquired as needed/desired.
With so many solutions popping up, it's hard to evaluate which are truly solving problems or just chasing a goldrush.
Thanks for posting this, definitely an important topic to think about right now.
I understand the "blockchain is not applicable to their core business" argument in some cases - like Netflix.
But Google, for example, not only works with huge databases but is also very active in the blockchain industry.
That's an important point you make: many blockchain projects can essentially just be a database.
I agree that most of those companies should have interest in both blockchains and Bitcoin. As for many projects in the emerging industry: I'm weary of many of them beyond there attempts at being cryptocurrencies.
Specifically, when I see companies like Citi or Goldman Sachs sniffing around, it really isn't a gold star for me...
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You are right
thanks for sharing
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