Deutsche Bank now taking a very optimistic view of crypto currencies

Deutsche Bank is optimistic that crypto currencies will evolve into the prevailing means of payment – already in the course of the next decade. In their latest research report entitled “Konzept“ the analysts perceive regulatory barriers as the greatest obstacle.

To date, crypto currencies have ranked more as merely one of our many possible means of payment than as a serious replacement for conventional currencies, as the analyst Marion Labour opines in the chapter “Cryptocurrencies: the 21st century cash“. – They impress with undeniable advantages such as security, speed, low transaction fees as well as simple storage and hold great significance for the digital era.

Crypto currencies would have to be legitimized in the eyes of governments and supervisory authorities in order to attain broader acceptance. Moreover, they must also “enable a global reach on payment markets.“ To this end, alliances would have to be concluded with key interest groups – mobile apps such as Apple Pay, Google Pay, credit card players such as Visa and Mastercard as well as retailers such Amazon and Walmart “, as she emphasized. “When these challenges are mastered the future of cash will be at risk.“

Laboure compares the rising acceptance of crypto currencies with the emergence of the Internet, and compares the number of blockchain wallet users with the number of Internet users over the years and comments as follows: “While we are still at an early stage, the trajectories are similar when one compares the scales involved,“ and goes on to state: “If the current trends continue, we may actually be looking at 200 million users of blockchain wallets in the year 2030.”

“Konzept“ is the title of a research report on financial and economic topics that is regularly issued by DB Research. In the latest edition the authors forecast how certain topics could develop in the upcoming 2020 years of the 21st century.

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