A Comparison Between Internet and Blockchain Technology by Deutsche Bank
By Ollie Hurst – Cryptocurrency Broker
While many studies in the crypto space might focus on the Bitcoin price increase, or even the growth in the number of people buying and selling Bitcoin, a new report explores the patterns of its underlying technology with another technology that is central to all of our lives, whether we like it or not.
Published by Deutsche Bank, a research project examines the infant years of the Internet, alongside and in comparison, with blockchain technology. In recent decades, one would struggle to envision a world without constant access to the internet and similarly, blockchain is considered an equal in its disruptive and progressive nature.
The report highlights a 10x difference in their projected adoption trends. The internet had successfully reached over 4 billion users around the world within 25 years, while the calculated forecast for blockchain indicates that by that time, it will host approximately 250 million participants. Though mass adoption is proving slower than the Internet’s journey, it is steadily increasing along with the number of people buying Bitcoin.
It is worth noting that despite the internet and its undeniable advancement on the world, it did experience a challenging early phase of adoption. Its history reveals the underlying technology in use as early as the 1960’s, though it wasn’t until the later 1980’s-90’s when it began seeing larger adoption and implementation.
Across the next two decades, the internet became much better, faster and more efficient. A separate report shows that today’s internet speed for example, is actually 136 times faster than what it was in its initial years. On top of that, internet availability is, on average, over 90% cheaper.
Many people speculate that blockchain technology might follow a similar path. Early adoption of blockchain technology is currently being hindered by hurdles such as cost and scalability, but as long as they continue being addressed, many continue to see the next decades as more significant than its present-day usage.