The adoption of bitcoin is faster than that of the Internet, and these are the reasons why
The mass adoption of bitcoin (BTC) will exceed 10% by 2030, and with it, it will reach the "early majority" stage faster than other disruptive technologies such as the Internet, smartphones, social networks and electric vehicles.
This is according to a report published by the research firm Blockware Intelligence, which analyzes and compares the historical curves of the massive use of various technologies with the exponential growth that bitcoin is reaching.
In itself, the researchers point out that bitcoin adoption is currently in the early adoption stage. But as soon as it crosses this threshold, expected by 2030, its use will spread at an accelerated rate.
Analysts attribute this momentum that will take the adoption of the pioneering cryptocurrency mainly to the economic incentive it offers.
This means that when introducing cryptocurrency in personal or business finance, the principles of game theory apply, in which the most optimal strategy is not to give up.
From the consumer's point of view, past technologies had convenience/efficiency-related incentives to adopt them. For example, automobiles allowed you to gain greater speed than horses. While the cell phone allowed you to make calls without being tied to a landline. However, it is difficult to measure the direct monetary value gained by being an early consumer of some of these technologies, whereas, with bitcoin, incentivized adoption creates a game theory where everyone's best response is to adopt and hold the cryptocurrency.
The researchers point out that in the case of bitcoin what predominates is its monetary value, especially for users who adopted it earlier or have held it longer.
"With bitcoin, incentivized adoption creates a game theory in which everyone's best response is to adopt and hold the cryptocurrency," they add.
Internet adoption accelerated with 60% of use.
The report examines historical curves in the use of automobiles, electricity, smartphones, the Internet and social networks, as well as the pace of bitcoin adoption since 2009.