Bank of America: Blockchain Market Could Hit $7 Bln, Will Give Boost to Amazon,

[CebuBitcoin]

Bank of America: Blockchain Market Could Hit $7 Bln, Will Give Boost to Amazon, Microsoft

The Bank of America (BoA) has estimated that blockchain could be a $7 billion market and provide a major boost to corporate giants such as Microsoft and Amazon, CNBC reports Oct. 2.

While BoA’s analysts refrained from putting “a time stamp” on the industry becoming a major, multi-billion dollar addressable market, they reportedly based their estimates on a ballpark figure that two percent of corporate servers would be used to run blockchain at a cost of $5,500 annually.

BoA research analyst Kash Rangan told CNBC that the technology is well-suited to some of the world’s largest corporations, noting for example that:

Readmore: https://cointelegraph.com/news/bank-of-america-blockchain-market-could-hit-7-bln-will-give-boost-to-amazon-microsoft

[Crypto]

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