According to a new report made by Blockware Intelligence, the global Bitcoin adoption rate will rise to 10% by 2030. Blockware Intelligence is the research branch of Blockware Solutions, which is a blockchain infrastructure and Bitcoin mining company.
The blockchain technology is considered to be a disruptive technology, meaning that it has the potential to greatly affect the normal operation of an industry. Blockware Intelligence has based the report on the analysis of past disruptive technologies’ adoption rates. Such technologies are, for example, electric power, automobiles, and the internet. Bitcoin’s growth rate since 2009 was also an important component of the research.
According to the report, the blockchain technology will have a faster growth rate than other disruptive technologies. This is due to the direct monetary incentives and the assistance of the internet. As more people adopt cryptocurrencies, their adoption rise will exponentially rise. This is known as the “network effect”. The network effect can be observed in other digital technologies as well, such as the internet, social media, and smartphones.
The report was reviewed by several crypto executives and investors, including the analysts from AMDAX Asset Management, Arcane Assets, and Ark Invest. However, Blockware Intelligence stresses the fact that the theoretical model they’ve used is still in a conceptual stage. Therefore, they do not encourage people to use it as investment advice, yet.