Blockchain Tech on Track to Reach 100 Million Daily Users by 2028

Blockchain technology is poised for unprecedented growth, with projections suggesting that it could reach a staggering 100 Million daily users by 2028, according to insights shared by Bloomberg Intelligence analyst Jamie Coutts. In a tweet on X (formerly Twitter), Coutts emphasized the relentless momentum behind blockchain adoption, even during volatile market conditions, and underscored the potential consequences of not participating in this significant trend.

Coutts pointed out that daily active addresses in the blockchain space exceeded five million during the third quarter of 2023, marking a 14% increase since the previous year. This robust quarter-on-quarter growth has consistently averaged 29% since 2019. If a more conservative growth rate of 20% is applied, Coutts suggests that the blockchain community could achieve 100 Million daily users by 2028.

Comparing blockchain adoption to the trajectory of fintech giant PayPal, Coutts noted that it took PayPal 13 years to reach 100 Million daily users. Drawing a parallel, he stated, “If Ethereum was day zero for smart contracts in 2015, then a similar time frame may be required for blockchain technology to attain a similar level of adoption.”

Beyond the surge in user numbers, blockchain-based companies could also witness a substantial increase in their valuations. Coutts’ analysis suggests that the blockchain ecosystem could potentially be valued between $5 Trillion to $14 Trillion once it reaches the 100 Million user mark, a dramatic rise from the current valuation of $350 Billion.

Coutts’ projections align with data indicating sustained interest in blockchain technology. Even during market downturns, the crypto industry experienced a 5% growth in 2022.

Furthermore, a 2022 survey conducted by Celent revealed that 91% of institutional investors expressed interest in investing in tokenized assets—blockchain-based tokens representing ownership of physical and digital assets.

Coutts cautioned against overly simplistic extrapolations, emphasizing that such projections should not be solely relied upon for valuation purposes. Nevertheless, his analysis illustrates the intrinsic relationship between user adoption and asset prices. As blockchain adoption continues to gather momentum, the prices of associated assets are likely to climb higher.

Blockchain technology’s meteoric rise in adoption is on a trajectory that could see it reaching 100 Million daily users by 2028. This expansion, driven by relentless growth and sustained interest, not only promises a transformative impact on the blockchain ecosystem but also the potential for substantial increases in valuations for blockchain-based companies.

It is evident that blockchain technology is positioning itself as one of the most significant trends of the next decade, and those who fail to seize the opportunity may find it costly in the long run.