This week, the blockchain news section on our DC Forecasts crypto news site is evidently booming. Aside from the new patent that was granted to IBM, the Bank of America is also in the latest blockchain news for its recent prediction about the market.
As one of the leading banks out there stated, blockchain could be a $7 billion market soon, providing a major boost to corporate giants such as Microsoft and Amazon. The news was first reported on CNBC yesterday.
Even though the analysts working at Bank of America refrained from putting an exact “time stamp” on when the industry will according to them reach these numbers, they also based their estimates on a ballpark figure that 2% of corporate servers would be used to run blockchain at an annual cost of $5,500.
According to one analyst from the bank named Kash Rangan, the technology is well-suited for some of the largest corporations in the world. He noted:
“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 also emphasized that despite the numerous potential use cases for blockchain, there are no “full products/services that have been built out or used in production” which is why the technology (still) has a major capacity for generating real-world capital.
Rangan also pointed out to Azure as the most popular blockchain-based platform by Microsoft, addressing a new model that would be called “blockchain-as-a-service (BaaS)”. As he stated:
“BaaS on Azure offers services such as smart contracts and other third party apps, and should benefit as use of blockchain on Azure increases.”
With this, the Bank of America once again proved that it recognizes who are the main firms which can take up an initiative and adopt blockchain in the near future.
Russia Is Not Planning To Buy $10 Billion In Bitcoin
“This statement has no common sense. The Russian Federation — like any other country in the world — is simply not ready to combine its traditional financial system with cryptocurrencies.”Sidorenko reacted to the fake news reports from Telegraph where it was noted that Russia wants to invest $10 billion in bitcoin in order to mitigate the economic impact that is brought up from the US sanctions. The rumors emerged on Twitter where a particular user wrote that Kremlin has no choice but to invest in bitcoin and that it is the only way to avoid the harsh sanctions by President Trump. Ginko posted on Twitter and his post went viral after Telegraph wrote a story about it and lots of other websites just added their own touch to it. Ginko is known to the public for making such shocking tweets and comments after once saying that sham investment adviser Bernie Madoff is the real Satoshi Nakamoto. However, Sidorenko said that Ginko’s comments are absurd:
“Even if Russia wants to place its cryptocurrency assets now, it simply cannot do this. We do not have any mechanisms that would allow us to introduce a system: where these assets would be stored, which authorities would be responsible for it, which would be responsible for abuses and stuff.”However, according to Tota Kaliaskarova, the director of macroeconomic policy with the Eurasian Economic Union says that crypto could have a huge impact on the Eurasian economy.
Huobi Re-Launched As Fully Licensed Platform In Japan
$1 Billion In Transactions Reported For 2018 By BitPay
WordPress Is Launching A Publishing Platform With Blockchain Features
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- Russia Is Not Planning To Buy $10 Billion In Bitcoin
- Huobi Re-Launched As Fully Licensed Platform In Japan
- $1 Billion In Transactions Reported For 2018 By BitPay
- Third Audit Attestation Of USDC Stablecoin Reserves Released By Circle
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