Hyperledger Exec: Blockchain Will Diminish Power of Tech Giants Like Google

"Tech giants such as Google , Amazon or Facebook will undoubtedly pick up blockchain and generate business models from it. However, I think that the core of Blockchain - as a decentralized technology - will diminish [their] market power."

"It was the time when Silicon Valley founders could capitalize on any kind of business plan. Even the investment market around Blockchain today is definitely overheating. The good side is that in this way a lot of capital is flowing to develop software."

According to Behlendorf, Hyperledger is "Not looking at the ICO market or the cryptocurrency market at all. We are looking solely at the potential of blockchain technology." He added that blockchain projects in testing supply chains are not given enough attention.

UK-based Juniper Research recently published a study, suggesting that the integration of blockchain technology by multinational tech companies was only a matter of time.

According to the study, 6 out of 10 such companies are considering adopting the technology or already in the process of developing their own blockchain services.

Last month, Facebook formed a Blockchain Exploratory Committee led by Coinbase board-member David Marcus.

Marcus said the team would, "Explore how to best leverage blockchain across Facebook, starting from scratch."