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.
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.