Boosting Amazon and Microsoft, Blockchain Is Set to Be a $7-Billion Market

Boosting Amazon and Microsoft, Blockchain Is Set to Be a $7-Billion Market
фото показано с : blokt.com

2018-10-3 17:49

Bank of America is suggesting that blockchain will become a $7-billion market if two percent of servers run on blockchain one day. The bank also suggests that the top nine companies stand to benefit hugely from the blockchain revolution, including Microsoft, Amazon, and Oracle. Though Bank of America predicts that the market will inflate several times its size, it did not provide a timeline for achieving the number.

Increased Blockchain Adoption

As per the analysis, blockchain adoption will be a multibillion-dollar business opportunity, and the potential beneficiaries of the revolution will use distributed ledgers to improve supply chains and cloud computing operations. The estimates assume that two percent of servers running at $5,500 per server per year will be using blockchain.

The observations were made by Bank of America research analyst Kash Rangan, who sees the retail giant Amazon benefitting hugely from the event. Rangan said in a client note on Tuesday, Oct. 2 that:

“Amazon will benefit from incremental cloud services demand from Blockchain implementation, while improved supply chain tracking should make Amazon’s retail operations more efficient.”

Rangan added that blockchain creates a new solution for an unalterable ledger that has not been available in the past.

How Are Industry Giants Adopting Blockchain?

Last week, Walmart announced that it would demand suppliers of lettuce to upload information about their food to blockchain within the next year.

Meanwhile, Microsoft’s Azure platform could be one of the top gainers as blockchain could be used in “software-as-a-service” (SaaS) offerings. Microsoft’s popular cloud computing platform could also depend on “blockchain as a service” (BaaS) to register growth. Talking about the tech giant’s blockchain potential, Rangan said:

“BaaS on Azure offers services such as smart contracts and other third-party apps and should benefit as the use of blockchain on Azure increases.”

Other companies that would be benefited through blockchain are Oracle, IBM, Salesforce.com, and VMware. Not only these tech stalwarts but also real estate and mortgage industry players like Zillow, Redfin, and LendingTree would also experience positive changes in business, thanks to distributed ledger implementation.

Rangan further mentioned that while several use cases of blockchain have been identified, industries are yet to develop full products and services. This is why Bank of America did not provide a concrete timeline for the growth of the market.

Boosting Amazon and Microsoft, Blockchain Is Set to Be a $7-Billion Market was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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