The development of the Internet access is the main catalyst for the acceptance of cryptocurrencies at a global level, according to the Stasis’ CEO, in an article published in Cointelegraph. He mentions recent research from Deutsche Bank to support his argument. In a report, the bank showed that in the first ten years of existence, the adoption of the Internet was of 500 million users. Already in the first 10 years of the blockchain, the adoption is of 50 million people, so a ratio of 10 to 1 . Taking this data into account, the bank projects an adoption of the blockchain by 200 million people by 2030.
According to Stasis data, by the end of 2019, more than 42 million users of blockchain wallets were registered. This represents great progress, especially considering that it occurred within three years. In the third quarter of 2016, this number was less than 9 million.
Other recent data suggests that global revenues from blockchain technology will experience significant growth in the coming years. The market is projected to exceed US$ 23.3 billion by 2023. The financial sector was one of the fastest to invest in blockchain, with more than 60% of the market value of technology concentrated in this area.
Blockchain growth must be done with a vision
Besides Internet access, he points out that to seize opportunities and create something revolutionary, one needs to have vision and planning for the development of the cryptocurrencies market. He mentions the case of RealNetworks, which pioneered in video content and the first to create a streaming service, before YouTube was launched in 2005.
However, the idea arose before the market was ready to receive it. That’s because the power of hardware 20 years ago didn’t allow mass adoption. But the customers were ready back then. And that’s exactly the moment the cryptocurrency industry is at today: there is high demand and the market is trying to keep up.