Bank of America has stated blockchain technology will be a seven-billion-dollar market, based on new analysis from researcher Kash Rangan.

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Kash Rangan

“Amazon will benefit from incremental cloud services demand from Blockchain implementation, while improved supply chain tracking should make Amazon’s retail operations more efficient,” Rangan stated Tuesday.

He did not “attempt to put a time stamp” on his seven billion-dollar prediction.

Bank of America also stated IBM, Salesforce.com, Oracle, VMware, and real estate companies like Zillow, LendingTree, Redfin will benefit with the utilization of blockchain technology.

Last week, Walmart began tests which require lettuce suppliers to upload data regarding their products into a blockchain within a year.

“Many blockchain use cases have been identified, but full products/services have not yet been built out and are not used in production,” Rangan said.

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