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:
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