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Bank of America: Blockchain Will Save Billions Of Dollars

Bank of America: Blockchain Will Save Billions Of Dollars

According to Bank of America new estimates, blockchain and companies still have tremendous growth potential. Even if only a small percentage of companies benefit from the benefits of the blockchain, Bank of America estimates that Blockchain can grow into a multi billion dollar market.

The problem is now widely known. Blockchain technology is currently at a point where it can grow enormously. Many use cases have already been identified and possible future scenarios have been designed. But: The implementation and actual implementation of the technology, which lies under the current biggest cryptocurrency Bitcoin, still lacks. This has now been recognized by the Bank of America.

Enormous Potential For Microsoft And Amazon

Bank of America says it has tremendous potential for the growth of  the blockchain technology and also established companies. Especially industrial giants like Amazon and Microsoft could benefit from the advantages of the technology in the future. Especially in the area of infrastructure could save a lot of costs.

$7 Billion Market Possible

Based on Bank of America analysis, the entire addressable market for Blockchain can reach $7 billion US dollars. Potential beneficiaries could link Blockchain to existing cloud computing operations and improve supply chain operations, according to Bank of America research analyst Kash Rangan.

Bank of America also predicted that companies like Oracle, IBM, Salesforce.com, VMware and mortgage companies such as Redfin, Zillow, LendingTree will benefit from the implementation of Blockchain.