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John Wolpert: "there are still decades before universal adoption of cryptocurrencies»

John Wolpert: “there are still decades before universal adoption of cryptocurrencies»

Developer at ConsenSys and founder of the Baseline Protocol, John Wolpert, believes that the mass adoption of cryptocurrencies and blockchain in society is still decades away.

Wolpert emphasized that such things have twenty-year cycles. He compared the development of cryptocurrencies to the emergence of the Internet since its invention in 1969. Now bitcoin resembles the Internet in the early 90’s, so it will take another 15-20 years for cryptocurrencies to become really popular.

“Everyone who now runs companies should resign. There must be new people. We have seen similar cycles in mobile devices, ” the developer said.

Wolpert expects that in 15-20 years, thanks to the adoption of cryptocurrencies, international private payments will become as simple as tipping in a cafe. For example, cryptocurrency can be used to thank a “seamstress in Guatemala” for the good quality of the seam, and “her boss will not be able to get his hands on this money.”

At the end of last year, Deutsche Bank reported that by 2030, the demand for cryptocurrencies will increase significantly, which will lead to the disappearance of Fiat currencies. In a later study, the Bank notes that if the Internet was able to attract 500 million users over 8 years of existence, the number of adherents of cryptocurrencies during the same time was only 50 million.