Blockware Solutions, a company that specializes in blockchain infrastructure services and bitcoin mining, has released a report analyzing the pace of bitcoin adoption, and what to expect in the future.

The company’s analysis stated that the number of Bitcoin users will reach at least one billion users, with 10% of the world expected to use the network by 2030.

Bitcoin adoption:

According press release Issued by the company last Thursday, predicting the future adoption of bitcoin by applying an “S-curve” that measures the future adoption of bitcoin by dividing the path of adopting new technologies into five time stages.

These stages are determined by the order of adoption among different types of people.

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These groups, in order, are:

Innovators, early adopters, early majority, late majority and laggards.

Most growth theoretically occurs during the early majority and late majority phases.

A Wells Fargo report from February assumed that cryptocurrency adoption follows a similar pattern.

The report said that the current adoption phase of cryptocurrencies mimics the Internet in the 1990s, noting that it is approaching over-adoption.

Perhaps most optimistically, the Blockware report predicts that Bitcoin will be adopted faster than those previous technologies.

The team expects 10% of the world to be on the Bitcoin network in just 8 years.

Blockware Principal Analyst Will Clemente smashed his team’s expectations in an interview with Anthony Pompliano on Thursday, stating:

We believe that Bitcoin adoption is poised to reach the major S curve of adoption.

As the network grows online and comes with financial incentives, its network effects are expected to be exceptional.

The report also notes that user adoption directly affects the bitcoin price in a positive way.

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Currently, the number of active users of the Bitcoin network is estimated at about 0.36% of the world’s population.

Clemente added:

You have this network effect that keeps progressing and growing exponentially… and then at some point you’re going to have some kind of event that fires that valve up.

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