Home Cryptocurrency News Digital Currencies to Witness Large Scale Adoption in Coming Years Claims Deutsche...

Digital Currencies to Witness Large Scale Adoption in Coming Years Claims Deutsche Bank

Deutsche Bank has made a startling claim regarding the large scale adoption of digital currencies and believes the coming years will remain crucial for them in terms of their growing popularity and acceptability.

Recently, a fresh report by the leading bank has been published about the surging popularity of digital currencies amid facts that they barely came into existence 10 years ago. And, in such a small period, the currencies have already displayed vast potential to fundamentally alter the payments, central banking, banking and balance of economic power.

According to the report,

We believe a new digital currency could become mainstream within the next two years.

Meanwhile, China’s key digital yuan initiative and Facebook’s Libra project are likely to be launched in 2020.

Deutsche Bank AG is a leading German multinational investment bank and financial services company. The bank is headquartered in Frankfurt, Germany. In terms of total assets, Deutsche Bank has already become the world’s 17th largest bank. It has already spread its operations in 58 countries all over the globe.

If the current adoption rate is to be considered, cryptocurrencies are already running parallel to the internet during its initial years, added the report. And, if the trend continues to persist in the years to come, there should be over 200 million blockchain wallets by the year 2030 from 50 million in 2020.

The latest report is the third in Deutsche Bank’s series that has been assessing the upcoming landscape for payments. The bank’s first report highlighted several existing cryptocurrencies, like bitcoin, that are grappling with volatility issues and cannot be used in its current form as a feasible mode of payment or even as a store of value. Meanwhile, the second report showcased the integral advantages of cash and how it will be used as a mode of payment method for yet another decade.

In the latest report by the bank, several such sentiments have been highlighted. But, at the same time, researchers also emphasized the fact that digital currencies may combine the convenience of electronic payment along with the privacy of cash payments.

Marisol Contreras
Marisol Contreras
Marisol is a crypto analyst and crypto trader. She invests in various cryptocurrencies and has a great idea about the finance market. She works as a chief editor of our team and makes the latest crypto news. She can be contacted by email: marisol@forexnews.world.

Must Read

4 Easy Steps to Master the Art of Trading

Newcomers should develop some basic knowledge about the market so that they can be able to take the right step in the right position....

Building Healthy Money Habits in the Trading Profession

Trading has become a global profession in contemporary times. People are becoming more self-conscious about money as the world has fallen due to the...

IOTA Coin – Future and Predictions

Introduction to IOTA Coin IOTA is a dispersed ledger structured to record and implement transactions between machines and devices on the Internet of Things (IoT)...

Super Lottery: NordFX Gives Away 100,000 USD to Traders

The $100,000 Super Lottery was launched by the brokerage company NordFX among its clients on April 1. The name speaks for itself: 100 cash...

Is Zcash Still a Better Option Than Monero and Dash?

Transaction data of most cryptocurrencies like Bitcoin are distributed on a public ledger that anyone can view. It is the rising concern over the...