Bank of America thinks blockchain could be a $7B market

posted 8 months ago
Bank of America research analysts have predicted that blockchain technology could represent a multi-billion dollar industry down the road, and be of particular benefit for leading companies like Amazon and Microsoft. The analysts predicted the total addressable blockchain market would eventually hit $7 billion, but there was not a particular timeline for the market growth since the technology is not yet widely used.

CNBC reported that the market estimate was predicated on the assumption that 2% of servers would one day be used to run blockchain. In a note to clients on Tuesday, Bank of America research analyst Kash Rangan wrote that companies like Amazon could integrate blockchain to streamline retail operation and enhance cloud computing operations. Bank of America said companies like Oracle, IBM, Salesforce, VMware, Redfin, Zillow, and LendingTree all stand to reap benefits from incorporating distributed ledger technology.
Tags: blockchain, news