The adoption of Bitcoin could be swifter than was expected- faster than the adoption of other disruptive technologies like electric power and automobiles.
Interestingly, the global adoption of cryptocurrency could definitely touch 10%- as mentioned in a new report. In the report compiled on Wednesday, Blockware Intelligence stated that the results were derived by examining historical rates of adoption of the nine past disruptive technologies which also include electric power, automobiles, smartphones, social media, and the internet- along with the adoption of this cryptocurrency.
Bitcoin Adoption To Soar High
Using the data- the average and the weighted average of the technology adoption curves throughout history, along with the growth rate of the adoption of Bitcoin, the report was definitely able to reach the conclusion that it did. It also mentioned that based on a metric called the Cumulative Sum of Net Entities Growth the adoption of Bitcoin would definitely break into the top 10% by 2030- which had a prediction rate of 60%. Now, Blockware Intelligence is said to be the research faction of Blockware Solutions- which is a BTC mining and blockchain infrastructure company- so the information could be a little bullish on adoption.
The intelligence unit has stated that it would expect the adoption of Bitcoin to reach saturation far quicker than a whole host of other disruptive technologies- along with giving direct monetary incentives to adopt the current macro-environment and since the adoption growth will be heavily accelerated by the internet.
Bitcoin, quite similar to smartphones, the internet, and social media, also derives huge benefits from the more people that adopt the technology- which is also called the network effect.