/biz/ - Business & Finance

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Anonymous Fri Jun 1 06:59:34 2018 No.9702425 [Reply] [Original]

Salesforce just bought, for $6.5 billion, Mulesoft Inc., a company that's about making APIs externally available:
>https://blogs.wsj.com/cio/2018/03/21/the-morning-download-salesforces-bets-6-5-billion-on-the-api-economy/
This is the most expensive acquisition Salesforce has ever made. That's because they know how important APIs will be, and ChainLink is poised to connect this API economy to this emerging Smart Contract economy.

Yes, the API economy is huge and it's growing. How huge? Well, the research consulting company Ovum says that the size of the API economy is going to be 2.2 trillion dollars during 2018. There were ~15,000 public APIs available in 2016, growing by 40 new ones per day during 2015. In 2016, Netflix alone received 5 BILLION API requests PER DAY.
>An API request is equivalent to a "job" that an oracle would do.
>For comparison, Oraclize claims to do "thousands" of jobs per day. They recently surpassed half a million jobs in 1 year. That shows just how much room for growth this API/Smart Contract economy has.

If ChainLink can capture just 3% of the $2.2 TRILLION global API economy, that gives it a market cap of $66,000,000,000 - 66 BILLION. Consider that Sergey said there are 19,000 people interested in running a node: that's over 100% of the available public APIs in 2016, so 3% of the market is very conservative. Consider that Starbucks holds 40% of the market share of US coffee shops. We’re not even considering what % of the smart contract economy ChainLink can capture, for which I can't find much on predictions for its value or its current value.

Price per coin multiplied by number of coins determines market cap, so marketcap divided by number of coins gives us coin price. So if LINK captures 3% of the API economy, that gives us a price of $188

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