Blockchain, Featured

Future Technology Blockchain Predicts To Capture $7Bn Market

The future technology of the systems is probably relying on blockchain based systems. There is a huge transformation going on in various sectors with distributed ledger technology and its customizations as per needs. The adoption of this emerging technology is likely to be a multibillion-dollar opportunity for tech companies such as Microsoft and Amazon as estimated by Bank of America.

As per the analysis was done by Bank of America research analyst Kash Rangan the total addressable market for blockchain will eventually hit $7 billion in the upcoming years. However, there is no time limit defined for this statement as the technology is still evolving and is not adopted by everyone across the world. The potential beneficiaries can club with blockchain based systems with their existing cloud computing operations to improvise supply chain operations.

In addition to this, it is also mentioned that the e-commerce giant Amazon will get immense benefit from the implementation of this future technology with its current cloud services demand. The entire summation will make the supply chain tracking and retail operations very efficient. In a given estimation it was unveiled that about 2 percent of servers will be used to run blockchain, at the rate of $5,500 per server, per year. Rangan asserted the fact that there are several blockchain cases already identified. However, the products and services are yet to be detailed and executed in the systems, according to CNBC.

Impact And Usage Of Blockchain

There is a significant impact of blockchain across various industries which have foreseen its advantages such as better security, monitoring, gaining complete control of system and cost efficient in operations. As per the leading consulting firms and top market analysts, the blockchain will disrupt five major sectors by 2020 which includes supply chain management, government, financial services, media distribution, and real estate. (Via Microsoft Azure)

Stay tuned to find more interesting updates on the future technology, blockchain.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Neha graduated in Electronic Media and has worked with Times group for 3 years with an overall experience of 6 years. She is passionate about learning languages and is a certified French Language Expert and IELTS Trainer. Neha writes breaking cryptocurrency news stories for OWLT Market.

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