Once just two percent of servers are operated with blockchain technology, Bank of America research analyst Kash Rangan predicts regarding blockchain technology would be worth $7 billion. Nine companies are generally identified as about to benefit significantly in the technology including Amazon and Microsoft. As reported by CNBC, Rangan didn’t put a time stamp on his predictions but more included technology giants Oracle, IBM, Salesforce, and VMware as others set to help.
“Many blockchain use cases happen to have been identified, but full products/services haven’t been built out and aren’t used in production,” said Rangan.
The analyst claims that Amazon Web Services will benefit “from incremental cloud services demand from blockchain implementation, while improved supply chain tracking should make Amazon’s retail operations far better.”?Rangan also predicts that blockchain will improve software-as-a-service platforms and that blockchain-as-a-service will emerge in the benefit of companies Microsoft.
Amazon – the Rumors and then the Reality
As one of the largest corporations around the world and one that is known for being quick to lose inefficiencies, Amazon is going to be watched carefully for blockchain or cryptocurrency adoption.?Rumors often circulate about Amazon’s ownership of certain blockchain and cryptocurrency related web domains, prompting some to believe Amazon is getting ready to take the leap.
The the truth is not known. So far, Amazon’s AWS cloud computing arm has partnered with Kaleido to offer a blockchain-based platform for clients to improve their projects. Kaleido, announced in May 2019 , was the main Blockchain SaaS solution over the AWS Marketplace for business.
AWS definitely seems to be looking to partnerships to make blockchain to its clients in place of developing technology internally. Kaleido uses Ethereum blockchain technology. Ethereum co-founder Joseph Lubin said in May,
“That is the heavy duty, full stack way of getting the company into blockchain solutions.”
Microsoft – Moving Data to Blockchain
Microsoft’s Azure cloud computing service continues to be using blockchain technology for three years.
Matt Kerner, general manager of Microsoft Azure, mentioned that Microsoft has actually been looking to underpin blockchain into a lot of its other platforms including Office 365 and SAP. In overall plan, as reported by reports, is the platform for Microsoft users to transfer their data from all of these platforms into the cloud and next onto blockchain.
Potentially to that end, Microsoft Azure has added Microsoft Flow and Logic Apps which will connect applications straight into the Azure Blockchain Workbench for developers. Kerner says it’s part of the evolution of massive Data.
“Blockchain empowers the next step – enabling 1, authentic data set shared across counterparties. This is often already increasing the way transactions happen,” Kerner told CoinDesk in September 2019 . “We the same will probably be true with data analytics.”
The Bank of America analyst’s predictions are based firmly in fact. Amazon, Microsoft as well as other technology leaders like Facebook and IBM are typical investigating and beginning adopt blockchain in technology stacks. This blockchain utilization could only grow as none worth mentioning leviathans can afford that should be left behind.