J.P. Morgan Chase, a leading global financial services firm has identified three public companies – Akamai Technologies Inc, DocuSign, and Ellie Mae – who it believes can get benefited the most through the application of Blockchain technology, reports CNBC Nov. 8.
J.P. Morgan opines that IT companies are soon going to employ blockchain in a similar way they have adopted machine learning and artificial intelligence (AI) in the recent past. However, currently, the situation is little non-favourable for that to happen any time soon as some companies have started dropping the term “blockchain,” stating it to be overhyped and a marketing ploy.
However, J.P. Morgan has identified three companies who can get benefited the most through the application of Blockchain technology. Those beneficiaries are Akamai Technologies Inc, DocuSign, and Ellie Mae. The former one is an American content delivery network having expertise in cloud servicing. The latter too runs a cloud-based platform providing service in the mortgage finance industry. DocuSign, on the other hand, is a San Francisco-based technical and digital transaction management service firm.
According to Sterling Auty, the software equity research analyst at J.P. Morgan, Akamai could get hugely benefited by blockchain as a service (BaaS) as customers will prefer it more than to develop a new technology from the scratch.
DocuSign is aiming for digitalizing the entire contracting process through a Blockchain network thereby shifting its centralized security model from the former one to a distributed model, Auty reported.
Regarding the third company, Ellie Mae, Auty said that the company can consider managing the entire mortgage process through smart contracts which could help to automate various tasks and can build trust amongst the users.