Blockchain Market Could Be $7 bln and Boost Amazon, Microsoft, BofA Says

Blockchain Market Could Be $7 bln and Boost Amazon, Microsoft, BofA Says

Novel estimates from one of the most influential investment banks in the world — Bank of America — showcase unalterable ledger spread will be of use for tech titans. In particular, the data tells that it will be a multi-million dollar opportunity for such giants like Amazon and Microsoft.

Blockchain Not Widely Adopted Yet, But Is Promising

As CNBC reports, the late analysis from Bank of America indicates the whole total market for DLT will reach the margin of $7 billion in the long run. At the same time, the analysis did not dare to name the exact date for it, explaining it by the absence of broad blockchain adoption. 

Good for Amazon

Kash Rangan, Bank of America’s research analyst says in the note to clients that tech companies could grasp DLT with current cloud computing developments and perfect supply chain actions. For instance, Rangan explained, this would be an advantage for Amazon, for which blockchain will of use in additional cloud services and retail operations. 

It has also been said 2% of servers will be employed to drive DLT. That will be $5,500 per server and per year. Rangan also emphasized (flattering for the blockchain itself) that DLT can do what any databases could not in the past. 

Good for Microsoft

Overall, the unchangeable ledger can perfect software as a service. Thus, Microsoft’s Azure, let’s say, may also benefit from it by relying on its popular cloud computing platform. It will allow Azure to use smart contracts and apps more effectively.

Who Else Can Take Advantage of DLT?

As per Bank of America’s estimates, among companies which also can take the best out of blockchain are:

  • IBM
  • VMware
  • Oracle
  • LendingTree
  • Redfin
  • Zillow
  • At the same time, Bank of America made it clear that there are many DLT estimates, but there is no evidence so far that blockchain can help earn larger gains.