How blockchain is emerging as a core building block

Bitcoin is an example of blockchain. Photo by Dan Kitwood/Getty Images

Blockchain technology seems to warrant our attention. Once seemingly confined to cryptocurrency, today blockchain is relevant to entities across many industries. It is even enabling some longstanding competitors to collaborate for mutual benefit. With applications that seem endless and enriching, blockchain may require consideration by companies and potential regulatory oversight by governments.

So, what is blockchain? In its simplest form, it's a way of storing and sharing digital information without an intermediary. Once the data is recorded, it can't be changed, and users can access it anonymously. The most well-known use of blockchain is probably bitcoin, a digital currency. However, there are many other uses for blockchain, such as tracking loyalty points and allowing people to pay for purchases using virtual wallets.

For Deloitte's 2019 Global Blockchain Survey, Deloitte's independent research team interviewed 1,386 senior executives from companies that use or may consider using blockchain, and employees from 31 companies that facilitate blockchain use. Fifty-six percent of survey respondents believe that blockchain is no longer a theoretical concept, but a technology that companies should consider using to keep pace with their competitors.

Houston innovating with blockchain
As an InnovationMap article notes, multiple Houston companies are embracing blockchain. Iownit.us has developed a platform for digital private securities, providing an easier ongoing connection between companies and their investors. Data Gumbo is using blockchain to create smart contracts between businesses in the energy industry. Social Chain allows individuals (rather than social networks) to earn money when their personal data is sold to marketers. Another Houston company, Topl, has six platforms to provide supply chain information — e.g., in agriculture, tracking food products from farm to shelves. Houston innovators have formed the Houston Blockchain Alliance, a blockchain networking group that meets regularly to discuss opportunities.

Beyond cryptocurrency
Now that the focus is no longer on if blockchain will work, but how, business leaders are faced with the challenge of incorporating it into their business models. Deloitte's 2019 Global Blockchain Survey states, "executives should no longer ask a single question about blockchain but, rather, a broad set of questions reflecting the role blockchain can play within their organizations." These questions address topics ranging from how blockchain is expected to change industries to what the organizations' "blockchain blind spots" are.

Collaborating with competitors
Blockchain is usually not organized and run by a single entity. For optimal effectiveness when using blockchain, some companies may opt to join a consortium, which as the InnovationMap article states, allows companies to come "together with others in [their] horizontal or vertical ecosystem, in common purpose." Consortia members must agree on their goals, governance, funding, intellectual property ownership, and more. Despite these challenges, 92 percent of survey respondents are either already consortium members or plan to join one within the next year.

Conclusion
The future of blockchain appears bright. This technology is no longer a vision, but a reality — one that companies and countries should consider implementing as technology becomes more and more relevant across industries and around the world.

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This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication.

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

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Intuitive Machines to acquire NASA-certified deep space navigation company

space deal

Houston-based space technology, infrastructure and services company Intuitive Machines has agreed to buy Tempe, Arizona-based aerospace company KinetX for an undisclosed amount.

The deal is expected to close by the end of this year, according to a release from the company.

KinetX specializes in deep space navigation, systems engineering, ground software and constellation mission design. It’s the only company certified by NASA for deep space navigation. KinetX’s navigation software has supported both of Intuitive Machines’ lunar missions.

Intuitive Machines says the acquisition marks its entry into the precision navigation and flight dynamics segment of deep space operations.

“We know our objective, becoming an indispensable infrastructure services layer for space exploration, and achieving it requires intelligent systems and exceptional talent,” Intuitive Machines CEO Steve Altemus said in the release. “Bringing KinetX in-house gives us both: flight-proven deep space navigation expertise and the proprietary software behind some of the most ambitious missions in the solar system.”

KinetX has supported deep space missions for more than 30 years, CEO Christopher Bryan said.

“Joining Intuitive Machines gives our team a broader operational canvas and shared commitment to precision, autonomy, and engineering excellence,” Bryan said in the release. “We’re excited to help shape the next generation of space infrastructure with a partner that understands the demands of real flight, and values the people and tools required to meet them.”

Intuitive Machines has been making headlines in recent weeks. The company announced July 30 that it had secured a $9.8 million Phase Two government contract for its orbital transfer vehicle. Also last month, the City of Houston agreed to add three acres of commercial space for Intuitive Machines at the Houston Spaceport at Ellington Airport. Read more here.

Japanese energy tech manufacturer moves U.S. headquarters to Houston

HQ HOU

TMEIC Corporation Americas has officially relocated its headquarters from Roanoke, Virginia, to Houston.

TMEIC Corporation Americas, a group company of Japan-based TMEIC Corporation Japan, recently inaugurated its new space in the Energy Corridor, according to a news release. The new HQ occupies the 10th floor at 1080 Eldridge Parkway, according to ConnectCRE. The company first announced the move last summer.

TMEIC Corporation Americas specializes in photovoltaic inverters and energy storage systems. It employs approximately 500 people in the Houston area, and has plans to grow its workforce in the city in the coming year as part of its overall U.S. expansion.

"We are thrilled to be part of the vibrant Greater Houston community and look forward to expanding our business in North America's energy hub," Manmeet S. Bhatia, president and CEO of TMEIC Corporation Americas, said in the release.

The TMEIC group will maintain its office in Roanoke, which will focus on advanced automation systems, large AC motors and variable frequency drive systems for the industrial sector, according to the release.

TMEIC Corporation Americas also began operations at its new 144,000-square-foot, state-of-the-art facility in Brookshire, which is dedicated to manufacturing utility-scale PV inverters, earlier this year. The company also broke ground on its 267,000-square-foot manufacturing facility—its third in the U.S. and 13th globally—this spring, also in Waller County. It's scheduled for completion in May 2026.

"With the global momentum toward decarbonization, electrification, and domestic manufacturing resurgence, we are well-positioned for continued growth," Bhatia added in the release. "Together, we will continue to drive industry and uphold our legacy as a global leader in energy and industrial solutions."

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This article originally appeared on EnergyCapitalHTX.com.

2 Texas cities named on LinkedIn's inaugural 'Cities on the Rise'

jobs data

LinkedIn’s 2025 Cities on the Rise list includes two Texas cities in the top 25—and they aren’t Houston or Dallas.

The Austin metro area came in at No. 18 and the San Antonio metro at No. 23 on the inaugural list that measures U.S. metros where hiring is accelerating, job postings are increasing and talent migration is “reshaping local economies,” according to the company. The report was based on LinkedIn’s exclusive labor market data.

According to the report, Austin, at No. 18, is on the rise due to major corporations relocating to the area. The datacenter boom and investments from tech giants are also major draws to the city, according to LinkedIn. Technology, professional services and manufacturing were listed as the city’s top industries with Apple, Dell and the University of Texas as the top employers.

The average Austin metro income is $80,470, according to the report, with the average home listing at about $806,000.

While many write San Antonio off as a tourist attraction, LinkedIn believes the city is becoming a rising tech and manufacturing hub by drawing “Gen Z job seekers and out-of-state talent.”

USAA, U.S. Air Force and H-E-B are the area’s biggest employers with professional services, health care and government being the top hiring industries. With an average income of $59,480 and an average housing cost of $470,160, San Antonio is a more affordable option than the capital city.

The No. 1 spot went to Grand Rapids due to its growing technology scene. The top 10 metros on the list include:

No. 1 Grand Rapids, Michigan
No. 2 Boise, Idaho
No. 3 Harrisburg, Pennsylvania
No. 4 Albany, New York
No. 5 Milwaukee, Wisconsin
No. 6 Portland, Maine
No. 7 Myrtle Beach, South Carolina
No. 8 Hartford, Connecticut
No. 9 Nashville, Tennessee
No. 10 Omaha, Nebraska

See the full report here.

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