Although blockchain technology is still growing, some established companies are pumping money into different projects offering specific use cases.
Indeed, Alphabet (NASDAQ: GOOGL) invested $1.56 billion in blockchain companies between September 2021 and June 2022 with four rounds, taking the lead among publicly listed firms investing in the sector, research published by Blockdata on August 11 indicates.
During the period, Blackrock (NYSE: BLK), with three rounds, invested $1.17 billion, followed by banking giant Morgan Stanley (NYSE: MS) at $1.1 billion with two rounds. Elsewhere, electronic giant Samsung leads in the number of funding rounds at 13 with $979 million, while Goldman Sachs (NYSE: GS) occupies the fifth spot at $698 million.
Google’s blockchain inroads
In recent years, Alphabet, the parent company of Google, has made inroads into the blockchain sector with several initiatives as more clients continue to adopt disintermediated peer-to-peer transactions.
Initially, Google...
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