Adoption of Bitcoin (BTC) Can occur faster than the adoption of past disruptive technologies such as automobiles and electricity, and according to a new report, global penetration could reach 10% by 2030.
June 8 reportBlockware Intelligence reached this forecast by examining past adoption curves for the past nine disruptive technologies such as automobiles, electricity, smartphones, the Internet and social media, and the growth rate of Bitcoin adoption since 2009. Said.
“All disruptive techniques follow a similar exponential S-curve pattern, but […] New network-based technologies continue to be adopted much faster than the market expects. “
Using the average and weighted averages of past technology adoption curves, and the growth rate of Bitcoin adoption, the report was able to reach that forecast.
An indicator called Cumulative Total Growth of Net Entities and Bitcoin Forecast “Based on a CAGR of 60%, we expect global Bitcoin adoption to exceed 10% in 2030.”
Blockware Intelligence is the research arm of Blockware Solutions, a Bitcoin mining and blockchain infrastructure company, so hiring may be expected to be bullish.
The intelligence unit said it expects Bitcoin adoption to reach saturation sooner than many other disruptive technologies. Direct financial incentives In order to hire, the current macro environment, and the growth of hiring will be accelerated by the Internet.
“From the consumer’s point of view, technology in the past had incentives related to convenience / efficiency. With cars, you can zoom beyond horses and buggies, and with mobile phones, you get fixed phones. I was able to make a call without being tied up, “reports the report. I will explain.
“The direct and financially encouraged adoption of Bitcoin gives rise to a game theory that it is best for everyone to adopt Bitcoin.”
Like the internet, smartphones and social media, Bitcoin also benefits more people Adopt technologyThis is known as the “network effect”.
“If you were the only user of Twitter, would it be worth anything? No. More users will make these technologies more valuable.”
However, the authors of the Blockware report emphasized that the model used to predict recruitment is only conceptual at this stage and is not intended to be used as an investment advice or short-term trading tool. It will continue to be refined. but:
“The general trend is clear. Global adoption of Bitcoin is likely to grow significantly in the future, Therefore, so is the price.. “
The reports and models have been reviewed by several crypto investors and analysts, including executives from Arc Invest, Arcane Assets, AMDAX Asset Management and M31 Capital.
Cryptocurrency adoption has grown rapidly over the past few years. According to data from Triple A, the global cryptocurrency payment gateway, global crypto ownership will average 3.9% in 2021 with more than 300 million crypto users worldwide.
Last year, blockchain data platform Chainanalysis revealed that global adoption of Bitcoin and cryptocurrencies surged 881% from July 2020 to June 2021. Vietnam showed the highest cryptocurrency adoption, leading 154 countries, followed by India and Pakistan.
In April, a survey conducted by the cryptocurrency exchange Gemini found that countries such as India, Brazil and Hong Kong saw a surge in cryptocurrency adoption in 2021. More than half of the respondents in the 20 countries surveyed said they started investing in cryptocurrencies in 2021.