Bank of America Report Shows Huge Benefits of Adopting Blockchain For Major US Companies

Kash Rangan told that there is plethora of opportunities for US IT behemoths if they choose to adopt the disruptive Blockchain technology, which could be a $7 bln market

Tue, 2/10/2018 - 18:15

Bank of America Report Shows Huge Benefits of Adopting Blockchain For Major US Companies

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Kash Rangan, Bank of America research analyst, told CNBC that there is plethora of opportunities for US IT behemoths if they choose to adopt the disruptive Blockchain technology, which could be a $7 bln market. According to Rangan, Amazon could boost the demand for its cloud service while also increasing the efficiency of supply chain tracking. Walmart has recently adopted Blockchain in order to prevent E.coli, thus becoming the first major US retailer that came up with a near-term use case for Blockchain.

Rangan also states that Zillow and other companies could also benefit from the nascent technology. Recently, Zillow CEO has compared Blockchain to the Internet.

It is also worth mentioning that Bank of America is among the leading companies by the number of Blockchain-oriented patents.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.