Bank of America has suggested that the use of Blockchain Technology can serve as a major breakthrough platform for companies like Microsoft, Amazon and Oracle. The bank published the list of other similar companies as well. It was all on the eve of 4th Annual America – Digital Latin American Congress of Business and Technology.

According to the report, the use of the technology will lead to a multi-billion opportunity for these companies. Analysts are sure about the possible positive outcomes. However, there is no mention of any specific time for the result to occur.

Kash Rangan, the Research Analyst of Bank of America has also put forth his views. He has explained that the implementation of the technology with former tech cloud service companies will increase its supply chain operations gradually.

Adding further to his point, he opined how the tracking feature of blockchain will facilitate the smooth running of retail operations. With the use of 2% of the servers, the companies will have to pay 5,500 per server annually.

The use of the distributed ledger technology will prove to be a profitable step for the company. For instance, Microsoft’s Azure could depend upon Blockchain as a Service (BaaS) for its cloud-computing platform. He also listed out the names of other companies those will be most benefited like Oracle, Salesforce.com, Microsoft etc.