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According to baseline co-founder, cryptocurrencies are still a few decades away

June 15, 2020

John Wolpert, Developer of ConsenSys and co-founder of Basic protocol, predicted that The large-scale adoption of cryptocurrencies and blockchain technology could be decades away.

In an interview with the Cointelegraph editorial team, Wolpert said:

“My personal theory is that things usually develop in 20-year cycles. Everyone who runs a company today has to retire and new people have to come later. We saw this in the smartphone space . “

Cryptocurrencies are like the early years of the Internet

Wolpert made a comparison the development of cryptocurrencies with the development of the Internet since its inception in 1969 against the much more popular analogy between Bitcoin and the Internet in the 1990s.

According to baseline co-founder, cryptocurrencies are still a few decades awayAccording to baseline co-founder, cryptocurrencies are still a few decades away

According to the developer of ConsenSys it will take another 15-20 years before blockchain comes into everyday life:

“One day I will be able to tip my seamstress in Guatemala for the seams on my shirt without her boss absorbing her money. I would like to see something like this, but it will take 15 years, maybe 20.

Even if we establish a one-to-one relationship between the introduction of blockchain and the spread of the Internet, we are still ahead of CompuServe. “

Deutsche Bank: 200 million crypto users in 2030

The banking giant this year Deutsche Bank AG has published a report which, like Wolpert, compares the cryptocurrency sector with the early years of the internet. However, the bank’s researchers point out that the The Internet has attracted 500 million users in the first eight years of life. while Cryptocurrencies only 50 million In the same period.

According to the Deutsche Bank The cryptocurrency sector will continue to grow On a path equivalent to 10% of the Internet, it is estimated that cryptocurrency users will reach 200 million by 2030.