CHARLOTTE, N.C.—Blockchain adoption will eventually be a multi-billion-dollar opportunity for tech companies such as Amazon and Microsoft, according to new estimates from Bank of America.
“Based on the analysis, the entire total addressable market for blockchain will eventually hit $7 billion, though the analysts did not ‘attempt to put a time stamp’ on it, as the technology is not yet widely adopted,” CNBC said.
The potential beneficiaries could marry blockchain with existing cloud computing operations and improve supply chain operations, according to Bank of America research analyst Kash Rangan.
"Amazon will benefit from incremental cloud services demand from Blockchain implementation, while improved supply chain tracking should make Amazon's retail operations more efficient," Rangan said in a note to clients.
The estimates assume that 2% of servers will be used to run blockchain, at $5,500 per server, per year, CNBC noted.