Hodler's Digest, October 1-8: WSJ Gets In and Out of Crypto, While BofA Sees a $7 Billion Future for Blockchain

Bank of America analysts said this week that blockchain has the potential to become a $7 billion market, providing a boost to corporations like Microsoft and Amazon.

Although no timeline was offered, the BofA analysts used the figure that two percent of corporate servers could run blockchain at an annual cost of $5,500.

The bank noted that the full capacity of blockchain has not yet been "built out.

"Blockchain makes cryptocurrencies the inevitable future of money, more transparent since it helps filter good businesses from bad businesses," - Prime Minister of Malta, Joseph Muscat.

The bill notes that the definition of blockchain differs across different bills, and suggest that the U.S. Department of Commerce create a working group in order to form a common definition of blockchain, as well as come up with suggestions for government tech and communications bodies to research the potential impact of blockchain tech across the policy spectrum.

Korean Investment Partners, South Korea's largest venture capital firm, has invested in TEMCO, the first time the company has invested in a blockchain startup.

KIP, known for investments in firms like Korean search engine Naver and Japanese messaging app LINE, has invested an undisclosed sum in TEMCO, which aims to develop supply chain management solutions on blockchain for enterprises.

Spencer Bogart, an expert in crypto and blockchain from Blockchain Capital, said this week that Bitcoin has almost found its bottom.

The magazine noted that only eight startups with a head office in Germany so far have completed an ICO.Audit, Consulting Firm Deloitte Describe Five Obstacles To Blockchain Adoption.

According to the firm's report, blockchain must first overcome five issues - the possibility of time-consuming operations, lack of standardization, high costs and complexity blockchain applications, regulatory uncertainty, and the absence of collaboration between blockchain-related firms - before in can be more widely accepted.