Deutsche Bank analysts presented a new research paper on the future of digital payments, in which compared the growth of the user base of blockchain wallets with the development of the Internet in its early years.
According to analysts, the distribution of the blockchain follows the path of the Internet, however, the number of technology users was an order of magnitude lower.
The Internet has attracted about 500 million usersafter 8 years of its existence, while cryptocurrencies for the same time - 50 million. This lag will remain in the foreseeable future, according to Deutsche Bank. The Internet has reached 4 billion users in less than 25 years, and cryptocurrencies, according to analysts, will have about 300 million users at the same stage.
In general, Deutsche Bank analysts are positivespeak about the prospects of cryptocurrencies and prophesy them widespread. Despite the fact that a relatively small fraction of the world's population has acquired and holds digital currencies, 200 million people can become users of blockchain wallets by 2030.
To implement this scenario, however, some kind of catalyst is required.
“If the Chinese authorities along with Google, Amazon,Facebook and Apple, or a Chinese company like Tencent, will be able to overcome some of the existing barriers; cryptocurrencies may become more attractive. ”, - noted in Deutsche Bank, adding that potentially this process could lead to the replacement of traditional money.
In another issue of the same study, Deutsche Bank analysts note that bitcoin in its current form is too volatile to serve as a “reliable” means of accumulation.
As a justification for their point of view, they point to sharp fluctuations in the price of bitcoin in 2017-2018.
“In the future, the sudden appearance of a new and widespread cryptocurrency will not cause surprise”They add.
At the end of 2019, Deutsche Bank strategist Jim Reidsuggested that cryptocurrencies could begin to attract ever-increasing capital flows if the existing fiat system continues to demonstrate its weakness, which it has been doing for the past 12 years.</p>
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