- Deutsche Bank decided to try and predict the future of the crypto sector, announcing that it expects 200 million users by 2030.
- The development of the crypto industry mirrors the growth of the internet several decades back, and the bank expects that the growth will continue at a rapid pace.
- Thanks to decentralization, cryptos and blockchain can help over 2 billion unbanked and underbanked around the world, many of which will continue joining the sector.
Cryptocurrency adoption has been on a sharp rise ever since 2017 when Bitcoin bull run allowed BTC to hit $20,000 per coin. Thanks to this single event, the entire world learned of cryptocurrencies, businesses, banks, and even entire countries started launching or at least considering their own coins, and while the number of active crypto users continues to surge.
However, many recognize that the crypto industry is still in its early stages, and crypto has a long way to go before it becomes user-friendly enough for anyone to be able to use it. With that in mind, people are looking towards the future, trying to predict what the situation regarding adoption could be like in 10 years.
Deutsche Bank itself decided to try and make an estimate, predicting that the crypto industry might reach 200 million users in 2030, should the adoption rate continue to grow exponentially over the coming years.
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The bank stated that its analysts envisioned a near future in which digital coins gain broad acceptance. Not only that, but the increased acceptance and openness towards crypto by younger generations signals that crypto usage is also likely to see a significant boost quite soon.
The number of unique crypto wallet addresses on the rise
The bank’s report claims that there are about 50 million unique crypto wallet addresses in the entire crypto ecosystem right now. If the growth rate continues steadily, this number should reach 200 million by 2030, especially since blockchain technology allows the unbanked and underbanked population to join the world economy.
Some estimates claim that there are over 2 billion that fit into the category of unbanked and underbanked, and the decentralized finances industry could allow them to bypass this problem. Many are also noticing that the adoption of cryptos so far looks very similar to the adoption of the internet, back in its early days.
Whether or not this happens, the following decade will likely be the key turning point for cryptocurrencies, as predicted by the bank. Especially thanks to the interest of countries like China, Turkey, Japan, and others, as well as major corporations, including Facebook, Amazon, Apple, and Alibaba. Of course, the report still stresses that regulation will be a vital part of the crypto industry, and without proper rules and guidelines, the crypto sector will not be able to properly mature.