The internet and cryptocurrency adoption rate will reach 1 billion users by 2027

While crypto users currently make up only a small percentage of the world’s population, the rise of Web 3.0 is expected to accelerate adoption rates.

The renowned analyst Lark Davis did tweet a graph showing Internet and cryptocurrency adoption rates. By juxtaposing internet and crypto adoption rates, we see a strong correlation when you factor in when the two gained momentum.

If this trend continues, there will be around 1 billion crypto users by 2026/2027. That’s five times the current estimate of around 200 million people.

Source: Twitter

Since cryptocurrencies are dependent on the Internet, it makes sense to assume a positive correlation. However, how can crypto adoption rates change as Web3.0 starts growing?

The introduction of cryptocurrencies is reflected in the internet

At the beginning of 2020, on-chain analyst Willy Woo comment that the introduction of cryptocurrency is comparable to the introduction of the internet. Accordingly, things are starting slowly, but over time, the adoption of cryptocurrencies will explode.

Woo said that the adoption of cryptocurrencies has not yet happened and neither do the masses, as human perception tends to process information linearly.

“It is human nature to see things from a linear point of view. So we’re not good at looking at exponential growth, which Bitcoin clearly does. “

Current estimates of the number of crypto users vary. While Davies puts the number at 200 million, or around 2.5% of the world’s population, research by blockchain solutions company Triple-A shows the number of users at 300 million, which is almost 4% of the population.

When asked why there hasn’t been a mass adoption of cryptocurrencies yet, Woo said that it tied to an internet user asking in 1994 why no one was using the internet. In other words, acceptance takes place.

How can Web 3.0 increase the adoption rate?

As the next evolution of the Internet, Web 3.0 has a lot to offer. However, since it is a somewhat vague term, what exactly is it and why is crypto important?

In one post on Medium by Fabric Ventures Ltd. Web 3.0 is described as the ability to help users and machines interact over a peer-to-peer (P2P) network without the need for a third party.

“The result: a composable, human-centered and privacy-preserving computer architecture for the next wave of the web.”

As Web3 evolves, the internet and blockchain will be fully integrated. This is driving the adoption of cryptocurrencies exponentially and exceeding Woo’s expectations.

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