Research conducted by Blockware Solutions showed that by 2030 at least 10% of the population will be using Bitcoin technology. According to the study, the quick adoption of Bitcoin will be accelerated by the internet, and since Bitcoin integration has a direct monetary incentive, the adoption could go even quicker.
9 Previous Disruptive Technologies Show a Similar Curve
The researchers analyzed nine previous inventions including automobiles, electricity, smartphones, cellphones, social media, and the internet in general. “All disruptive technologies follow a similar exponential S-curve pattern, but newer network-based technologies continue to be much faster than the market expects,” says the research paper. The forecast is based on the Cumulative Sum of Net Entities Growth (CAGR). According to this metric, there’s a 60% chance of the prediction becoming reality.
Bitcoin (BTC) is different from past disruptive technologies due to its direct financial impact on early consumers. From a consumer’s standpoint, the already adopted technologies like cars enabled the user to move faster than a horse or bicycle, and cellphone technology enabled the user to talk to anyone in the world without being tied to a landline.
And of course, the most revolutionary invention of our times is the internet, which enables consumers to expand business and communications way beyond their local areas. Bitcoin (BTC) might be similar to the internet in the game theory that people adopting the technology earlier will reap the most benefits.
880% Surge in BTC Adoption
Earlier this year, Gemini conducted research showing that India, Hong Kong, and Brazil are among the top countries to adopt Bitcoin (BTC), as nearly 50% of the interviewees claim to have plans of investing in crypto. Another analysis by Chainalysis said that crypto adoption has surged by an impressive 880% since the summer of 2020 to June 2021. Asia is also among the quickest adopters with Vietnam, Pakistan, and India scoring the highest.