Blockware Intelligence, the research unit of Blockware Solutions, predicts international adoption of bitcoin will increase by 10% by 2030.
After comparing cryptocurrencies to past breakthrough technologies, Blockware Intelligence has concluded that adoption of Bitcoin could happen at a much higher rate than the global spread of electricity or automobiles once did. Blockware Intelligence based its prediction on an analysis of the adoption curves of nine past breakthrough technologies, comparing them to that of Bitcoin since its blockchain launch. All breakthrough technologies follow a similar S-like exponential pattern.
However, the latest technologies, which are based on the network effect, will spread even faster than the market expects. Analysts explained that from a consumer perspective, the main incentive to adopt cars was the convenience and speed of travel, to use a cell phone – the ability to make calls anywhere, and the adoption of Bitcoin in finance applies principles of game theory, in which the best strategy is not to give up on Bitcoin. In other words, Bitcoin adoption is based on a network effect. The more people have BTC, the more transactions occur between them. For this group of consumers, Bitcoin is valuable, so other people simply have no choice but to start using cryptocurrency as well.
Thus, using average and weighted average historical technology adoption data curves, as well as Bitcoin adoption growth rates, Blockware Intelligence concluded that by the end of this decade, the rate of international bitcoin adoption will increase by 10%. This is due to the current macroeconomic situation, the opportunity for quick profits, and the availability of the Internet.
It should be noted that the mass popularity of the cryptocurrency is predicted not only by analysts, but also by executives of world-renowned companies. In particular, the day before the confidence in Bitcoin was confirmed by the head of MicroStrategy Michael Saylor. The giant company has already bought $3.965 billion worth of BTC. PayPal’s CEO Dan Schulman also said that cryptocurrencies will not only significantly change the modern financial systеm, but will become an integral and important part of it.
