Investment banking company, Deutsche Bank, has published a report highlighting the potential growth of cryptocurrencies in the next decade. According to the report, the forces that have held the current fiat system together now look fragile, and they could unravel in the coming decade.
“Demand for alternative currencies could soar.”
The “imagine 2030” report predicts that in case the fiat system continues to break, it might lead to a backlash against fiat money, and demand for alternative currencies such as gold or crypto could start to soar. The German-based Deutsche Bank describes cryptocurrencies as “additions” rather than substitutions in this decade. But till we reach 2030, the role of cryptocurrency might be reversed.
Could cryptocurrency go mainstream in the coming decade?
Several crypto enthusiasts have made ambitious predictions for the bitcoin for the coming decade. However, the important thing to note here is that governments all over the world are looking into centralized cryptocurrencies, which is not the same as decentralized cryptocurrencies. Some central banks have even confirmed the launch of national digital currency.
According to the Deutsche Bank report, the number of blockchain wallet users would increase to 200 million by 2030 if the current trend is followed.