The Rise of Enterprise Native Blockchain: Why They All Need to Build Their Own Blockchain

Author: Ollie, encryption researcher; Translator: Golden Finance xiaozou

The encryption circle probably never anticipated that these two words would be combined: corporate and network-chains. If you are still trapped in the cognitive bias of the centralized world, you might think that "corporate chain" is a completely different concept.

But please don't misunderstand my point. What we are discussing is enterprise-native blockchain, and in this regard, we have seen a growing trend: traditional enterprises are building Layer-1 or Layer-2 blockchains either by creating their own technology stacks or by utilizing existing infrastructure, bringing users into the on-chain world.

However, this is not a smooth path. It is important to know that, unlike the almost cypherpunk-style blockchain that encryption enthusiasts are familiar with (built around decentralization, anti-censorship, and transparency), enterprise blockchain has chosen a completely different path.

For enterprise networks, priorities always revolve around scalability, compliance, and control, with the core focus on strengthening traditional institutions rather than completely replacing them with on-chain financial primitives. Upon further reflection, who could have anticipated such a development?

Choosing to build a channel instead of using existing facilities is undoubtedly the most obvious sign of value misalignment between both parties, isn't it?

Nevertheless, whether it is financial giants experimenting with tokenized assets or supply chain groups directly embedding traceability functions into logistics systems, the embrace of distributed systems by enterprises is no longer a hypothesis — it has become a reality, and 2026 may very well be the key year when everything comes together.

Next, we will elaborate on some cases of traditional industry giants that are building their own distributed networks.

1. Draw the enterprise blockchain network map

Some traditional industry giants have announced plans to build their own blockchains or have already begun construction, each adopting unique methods to provide different forms of added value to their existing user base.

Unlike conventional blockchains, these enterprise networks do not need to cultivate users from scratch—they come with a large existing traditional user base, and can seamlessly guide users onto the chain without requiring them to have a deep understanding of encryption technology, thanks to advances made in the field of encryption abstraction.

The following are typical cases of enterprise blockchain networks:

(1) Sony enters the market through Soneium

Sony enters the encryption field through Soneium, which is a public Ethereum Layer 2 network built on the OP Stack and is part of the Optimism Superchain system.

Soneium aims to connect the strong ecosystem of Sony's gaming, music, finance, and entertainment sectors and bring it on-chain to provide a more flexible and unique experience.

Soneium is also designed as a complete platform for creators and developers.

As for the current progress, the launch of the "Soneium For All" program reveals Sony's clear intention—this game incubator aims to cultivate consumer engagement with gaming projects within its growing network of seven million users.

(2) Stripe builds Tempo

Stripe is a traditional financial giant, an online payment processing and credit card company.

Stripe has partnered with Paradigm to embark on a mission to integrate encryption technology, building an EVM layer one blockchain called Tempo, designed specifically to support global payments and stablecoins.

For Stripe, the goal is very clear: to significantly shorten settlement times, reduce costs, and natively integrate encryption technology into the Stripe ecosystem. While more in-depth technical details are still being disclosed, Tempo will clearly serve as a strategic bridge for Stripe towards broader encryption capabilities.

(3) Google Cloud's GCUL (Google Cloud Universal Ledger)

If you think artificial intelligence is Google's boundary, then you are mistaken - this giant is simultaneously entering the encryption field.

Google Cloud is collaborating with CME Group to pilot GCUL, a private permissioned distributed ledger based on Python smart contracts, designed specifically for the core operational mechanisms of institutional finance.

The universal ledger has entered the private testnet phase, confirming Google's progress in the field.

GCUL aims to enhance efficiency in the real world by managing collateral, margin, settlement, and fee payments. Its mission is to serve as the foundational pipeline for a 24/7 uninterrupted tokenized asset workflow.

The project is scheduled to undergo its first integrated testing in March 2025, with plans to conduct a trial run with real market participants later that same year, aiming for an official service launch in 2026.

(4) Circle (USDC) Preparation for Arc

Following Circle's IPO launch, its next-generation product Arc is about to be unveiled—this is a brand new Layer-1 public blockchain designed specifically for stablecoin finance.

The functional design of Arc is quite groundbreaking: USDC will become the native Gas token, while also incorporating foreign exchange quotes and settlement functions, achieving sub-second finality, providing optional privacy solutions through confidential transmission, and fully integrating with the entire product line of Circle.

The design of Arc is compatible with EVM, allowing developers to integrate their dApps into the network and develop in a familiar environment.

It is said that Circle Arc has set a performance target of approximately 3000 TPS and a settlement speed of within 350 milliseconds (which can reach 10,000 TPS when using four validation nodes).

Due to the expectation that only a small number of validating nodes will support large-scale USDC on-chain transactions, concerns about Arc potentially becoming a vulnerable target have emerged.

(5) Other projects worth noting

In addition to the above cases, several enterprise blockchains are also being promoted: for example, the top football organization FIFA is building a customized FIFA blockchain on the Avalanche subnet and migrating its collectibles from Polygon and Algorand to its own native FIFA network.

One of the largest multinational corporations in the United States, JPMorgan Chase is also exploring the on-chain world through its self-developed blockchain, Kinexys. Kinexys will serve as a bank-led blockchain network, supporting 24/7 uninterrupted transactions, enabling asset tokenization, and operating JPMorgan Chase's deposit token—a stablecoin used for native cash settlement and payment scenarios for institutional clients.

Another traditional industry giant that has recently announced its entry into the encryption field with a self-built distributed network is the automotive manufacturer Toyota. Toyota released a white paper on the Mobile Coordination Network (MON), which will serve as an intermediary network layer to coordinate the diversified and multi-level relationships inherent in the mobile travel sector.

Similar to FIFA, Toyota has chosen to use Avalanche as the foundational support for its coordination network, citing features such as rapid finality and native cross-chain messaging that align closely with the concept of "locally built, globally collaborative" of MON.

These and other enterprise blockchains are expected to go live between 2026-27, and we believe that this year may see explosive growth in global on-chain applications.

2. Why should enterprises build their own blockchain?

Frankly speaking, we share the same questions as you. We will do our best to find the most reasonable explanations. Here are the main reasons we believe:

First of all, the existing options do not always meet their needs. Today's blockchain networks still have many issues, including concerns about speed, security, and decentralization.

In addition, most networks operate in environments with relatively unstable economic models. For example, the Gas costs priced in gwei on Ethereum can fluctuate dramatically with the price of the underlying currency ETH.

More importantly, for most businesses, controlling the infrastructure means controlling the customer funnel and the data flow that comes with it.

These are highly valuable derivative benefits of the blockchain network, primarily benefiting traditional enterprises. Therefore, instead of renting infrastructure on existing L1s, they see building their own technology as an option with unlimited advantages.

Of course, most existing networks cannot achieve the idealized customization needs. This is a key factor—given the characteristics prioritized by enterprise-native blockchains, which differ from encryption-native chains: significant compliance, coupled with enhanced performance and customized economic models, are far more important than any crypto-punk utopian conception.

3. What will the future form of enterprise chains look like?

We do not need to look too far ahead to realize that enterprise blockchain networks are rapidly proliferating. Therefore, it is expected that more such networks will emerge in the future, providing a customized on-chain experience for their existing user base utilizing distributed systems.

As most enterprise chains are still in the testnet or construction phase, we have yet to see compelling successful application cases. But it is evident that they will never lack users - as they already have a mature and highly sticky user base.

In the future, enterprise blockchain is likely to operate a hybrid ecosystem, utilizing both permissioned and permissionless systems to serve different user groups.

On one hand, enterprise chains will maintain compliance (especially in scenarios involving sensitive business and customers), upholding strict identity verification and regulatory standards; on the other hand, they will integrate with encryption-native public networks to obtain seamless value dividends from the decentralized, permissionless encryption ecosystem.

Another obvious trend regarding the future of enterprise blockchain is that they will become increasingly adept at providing more user-friendly solutions and applications than encryption-native networks. Encryption-native networks struggle to provide a standardized consumer experience due to the need to address issues such as user anonymity.

We believe that, with decades of experience accumulated in the centralized world, these traditional institutions or enterprises carry a wealth of experience, capital, and talent, and with the right balance and trade-offs, they will ultimately deliver a high-quality consumer experience for end users.

4. Conclusion

With the rise of enterprise blockchain, we are increasingly aware that the encryption industry is no longer in the early stages of conception. Many elements in the development process have already been activated.

However, there is no doubt that this development comes with trade-offs.

As mentioned earlier, enterprise chains often prioritize compliance, control, and efficiency over decentralization, raising questions about whether these networks dilute the spirit of permissionless innovation.

However, for mainstream applications, many of these "compromises" actually enable the technologies we cherish to be adopted by banks, enterprises, and regulatory agencies.

Unfortunately, the outlook is not optimistic for purist on-chain enthusiasts—we believe the boundaries between encryption-native and enterprise-native ecosystems will become increasingly blurred.

However, considering the debates surrounding the number of validating nodes, architectural design, and the trilemma of encryption native public networks, the encryption native network chain still shows signs of application. We indeed believe this clearly indicates that users may not care as much as we imagined about whether their transactions are settled on public L1, permissioned consortium chains, or enterprise subnets.

For users, as long as the applications on the network meet the benchmarks of being seamless, fast, reliable, and enhancing convenience in life, they can accept them with ease.

From this perspective, the rise of enterprise chains shows us a clear trend: once niche encryption technologies are steadily permeating global infrastructure.