Market Capitalization For Blockchain Solutions May Reach $7 Billion
In accordance with estimates revealed by a financial conglomerate Bank of America (BoA), deployment of blockchain technology will allow such large firms as Amazon and Microsoft to obtain a potential profit of several billion US dollars, CNBC reports.
As follows from experts' research, the market of blockchain technologies will ultimately reach a total capitalization of over $7 billion, although the exact timing has not been specified since everything depends on the scalability of distributed ledger technologies (DLT).
BoA analyst Kash Rangan states that both Amazon and Microsoft can implement blockchain into their existing cloud services, thereby establishing the provision of services to customers. For instance, if Amazon developers start using blockchain on 2% of their servers, they will receive $5500 annually from each server.
Rangan also suggests, by analogy with SaaS, to deploy blockchain as a service (BaaS) scheme, which has similarities with the functionality of the Microsoft Azure cloud platform.
BoA analysts predict that firms such as Oracle, IBM, Salesforce, and real estate companies Redfin, Zillow, and LendingTree will also profit from blockchain adoption in their systems.
In view of the fact that blockchain can be widely used in the fintech sector, Rangan believes it is impossible to give a full assessment of the anticipated profit that the technology can bring to investors.
As previously reported, the British Chancellor of the Exchequer called blockchain technology one of the ways to solve issues in the trading sphere.