John Wolpert, developer of ConsenSys and co-founder of Baseline Protocol, predicted that large-scale adoption of cryptomonics and blockchain technology could be decades away.
During an interview with the Cointelegraph editorial team, Wolpert explained:
„My personal theory is that things tend to develop in twenty-year cycles. Everyone who runs companies today has to retire, and new people have to come in later. We’ve seen this in the smartphone industry.
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Kryptomonas are like the early years of the Internet
Wolpert has compared the trajectory of cryptomonies to the development of the Internet since its inception in 1969, contrary to the much more popular analogy between Bitcoin and the Internet in the 1990s.
Therefore, according to the developer of ConsenSys, it will take another 15-20 years before blockchain is incorporated into everyday life:
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„One day I will be able to tip my seamstress in Guatemala for the seams of my shirt, without her money being absorbed by her boss. I’d like to see something like that, but it’ll take 15 years, maybe 20.
Even if we draw a one-to-one relationship between the adoption of blockchain and the proliferation of the Internet, we are still in the period before CompuServe.
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Deutsche Bank: 200 million crypto users by 2030
This year, the banking giant Deutsche Bank AG published a report which, like Wolpert, compares the crypt coin industry with the early years of the Internet. However, the bank’s researchers point out that the Internet has attracted 500 million users during its first eight years of life, while cryptomonics has attracted only 50 million in the same period of time.
According to Deutsche Bank, the crypto coin sector will continue to grow following a trajectory equal to 10% of that of the Internet: therefore, it estimates that crypto coin users will reach 200 million in 2030.