According to Bank of America’s estimations, the value of the blockchain market could reach $7 billion, CNBC reports, citing the bank’s research analyst Kash Rangan. The assessment was made based on the assumption that 2% of all servers would be running on blockchain at that time. Also, the banking giant concluded that nine US companies had great opportunities and benefits from the broad adoption of the distributed ledger technology (DLT), an umbrella term that also includes blockchain. As per Bank of America (NYSE:BAC), which is a blockchain supporter itself, Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Oracle (NYSE:ORCL) could benefit from this emerging market.
Bank of America research analyst Kash Rangan said on Tuesday in a note to clients:
“Amazon will benefit from incremental cloud services demand from Blockchain implementation, while improved supply chain tracking should make Amazon's retail operations more effici...
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