Bitcoin, Crypto currency, Blockchain

Bank of America: the Blockchain is a billion of US to save dollars

New estimates from the Bank of America that there are for the Blockchain and the company still has huge growth potential. Even if only a small part of the company benefits from the advantages of the technology, Bank of America, estimates that the Blockchain can grow to a Multi-billion-US-Dollar-market.

The problem should now be (at least in cryptographic circles) widely known. The Blockchain technology is currently at a point where you can grow. Many Use Cases are already identified, and the possible future scenarios have been designed. But: the implementation and the actual implementation of the technology, which is under the crypto-currency Bitcoin, remains weak. This has now also recognized the Bank of America.

Enormous Potential for Microsoft and Amazon

Because according to Reports, the Bank of America sees huge Potential for the convergence of the Blockchain technology and established companies. Just industry giants such as Amazon and Microsoft could benefit, therefore, in the future, the benefits of the technology. Just in the area of infrastructure, it is expected a high saving in cost.

7 billion-US-Dollar-market

Based on the analysis of the Bank of America, the total addressable market for Blockchain can reach seven billion dollars. The potential beneficiaries could combine Blockchain with existing Cloud-Computing companies and the operation of the supply chain, the research analyst of the Bank of America’s Kash Rangan to CNBC:

“Amazon will benefit from the demand for Cloud Services through the Blockchain implementation. Improved Supply Chain Tracking should make the retail business of Amazon more efficient. […] Many of the use cases for block chains have been identified, but the full range of products and services have not yet been developed, and will not be used in production.“

Bank of America said that the companies Oracle, IBM, Salesforce.com, VMware, as well as real estate – and mortgage providers such as Redfin, Zillow, LendingTree will benefit from the implementation of Blockchain.

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