Home / Blockchain News / BOA Analyst: Blockchain as a Service Market to Reach $7 Billion

BOA Analyst: Blockchain as a Service Market to Reach $7 Billion

The co-founder of Ethereum Joseph Lubin launched Azure customers have access to the Ethereum blockchain after Microsoft partnered with ConsenSys, a decentralized collective of Ethereum coders.

Tech giant Microsoft already offers BaaS (Blockchain as a service) tools and services through Microsoft Azure which launched in 2015. Microsoft’s Azure includes a ‘sandbox’ where developers can test their apps before launch as well as various tools designed to streamline the development process.

A recent analysis by Bank of America’s Kash Rangan suggests that blockchain adoption will become a multi-billion dollar business.

With more and more industry titans rolling out their BaaS products, the potential market value grows increasingly more lucrative. BoA analyst Kash Rangan believes $7 billion to be the future value, although was hesitant to provide a set time as to when that value would be reached due to adoption limitations. However, Ranger did point out that the beneficiaries could merge cloud computing with blockchain solutions to improve supply chain operations, a major use case for blockchain technology.

“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 wrote to BoA clients on Tuesday.

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