According to Kash Rangan, an analyst at Bank of America, these companies could combine blockchain with existing cloud computing operations, thereby reducing logistics costs.
"Amazon will benefit from meeting the growing demand from cloud services for blockchain adoption. It should also improve supply chain tracking, which will improve the efficiency of Amazon's retail operations," Rangan said on Tuesday. He estimates that 2% of all servers will be used to support the blockchain.
Blockchain is a software protocol that powers cryptocurrencies like Bitcoin. The technology, also called distributed ledger technology, stores data in a secure, decentralized and immutable ledger in a way that “wasn't possible in the past,” Rangan said. Retail giant Walmart, for example, is one of the first to announce last week that its vegetable suppliers will be required to upload product information to the blockchain.
Blockchain could also improve existing “back-office software,” or BaaS, on popular cloud platforms, Rangan said.
“With BaaS, the Azure platform will be able to offer services such as smart contracts, hosting third-party applications, so for companies like Amazon and Microsoft, the use of blockchain should become very profitable.”
According to Bank of America, companies such as Oracle, IBM, Salesforce.com, VMware, as well as real estate companies such as Redfin, Zillow, LendingTree, can also benefit from the implementation of blockchain. To clarify, it's worth mentioning that Bank of America officials still have different views on blockchain.
“Many use cases for blockchain have been identified, but platforms and products for these uses have not yet been created and are not used in business,” Rangan said.
According to https://www.cnbc.com/
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