Blockchain-as-a-service predicted to be $7B market
Companies such as Amazon, Microsoft and Oracle will reap a financial windfall by offering blockchain as a service (BaaS), a market that’s quickly growing as companies look for ways to use the distributed ledger technology without spending a lot of money.
If just 2% of servers act as blockchain nodes some day, the BaaS market would reach $7 billion, according to Bank of America research analyst Kash Rangan.
In a note to investors yesterday, Rangan named nine companies best positioned to take advantage of the BaaS movement. Along with BaaS providers Amazon, Microsoft and Oracle, Rangan named IBM, Salesforce.com, and VMware as leaders in the space. He also said real-estate/mortgage companies with blockchain-based online services, such as like Redfin, Zillow, and LendingTree, will also benefit. Those services digitize the transfer of property.