That’s Trillion With A ’T’

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In an opening keynote at the American Banker’s Digital Currencies + The Blockchain Conference, Blythe Masters spoke about the opportunity that Bitcoin and the Blockchain present. In a recent Coindesk article she was quoted as saying in her keynote:

“It should be fairly obvious that the addressable market for this technology is absolutely gigantic. We’re talking markets that are measured in the trillions, not the billions.”

That’s right trillions.

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It’s very easy to forget how big the opportunity for Bitcoin and Blockchain tech in fact is. For the most part, many still see bitcoin the ‘currency’ as the main opportunity – with remittence as the headline example. However, this market pales in comparison to the size of the financial services sector. This then pales in comparison to the possibility of machine-to-machine transactions facilitated by Bitcoin. Which might well one day pale in comparison to a new market that we haven’t yet imagined Bitcoin could impact.

So despite the fact that we still debate whether Bitcoin will survive a fork, whether permissioned or permissionless networks will win out, whether a tokenless system can even be called a ‘blockchain’, it’s worth remembering that in Bitcoin the market size question is generally answered with the word trillion. Which is a gigantic opportunity.

See also  Another Week In Blockchain Tech

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