Bank of America Has This to Say About Blockchain’s Future with Amazon

Many have heard the term blockchain but aren’t too familiar with what it is. It’s a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.

According to Bank of America, many big companies will be benefited by the technology, including Amazon, Microsoft, and Oracle.

“Amazon will benefit from incremental cloud services demand from Blockchain implementation, while improved supply chain tracking should make Amazon’s retail operations more efficient,” says Bank of America analyst Kash Rangan.

Bank of America estimates that blockchain could become a $7 billion market and has identified nine companies that stand to benefit from eventual mainstream adoption of blockchain.

Next to Amazon, Oracle, and Microsoft, the companies are IBM, Salesforce.com, VMware, Redfin, Zillow, and Lendingtree.

Disclaimer: We have no position in any of the companies listed in this article and have not been compensated for this article.