Oliver von Landsberg-Sadie, BCB Group CEO, shares his thoughts alongside other industry experts about the meaning of mass adoption relating to crypto:
When we attempt to project the growth of the cryptocurrency industry, we see three distinct market segments, each of which will have its own adoption curve. In an organic adoption cycle, the man on the street discovers a great idea and spreads the word, accelerating adoption in the retail segment.
Businesses take note and seek to monetize the opportunity, and so we see the growth of adoption in the commercial segment. As this spreads, financial institutions like banks and payments businesses consolidate industry-wide solutions and lay down the bedrock for efficient global service, and this drives adoption in the institutional segment.
This pattern is playing out with textbook accuracy in cryptocurrency markets. In the beginning, cryptocurrency was the preserve of technophiles and mathematicians, until it found a foothold as a medium of exchange and later as a vehicle of financial speculation in the retail segment.
Businesses like brokerages, exchanges and payment services sprang up to better service this market. Today, we have major institutions like Fidelity, JPMorgan and other headline-grabbers all servicing parts of the cryptocurrency value chain at a global level.
With all three segments now on the adoption curve, we are beyond the inflection point of mass adoption