A recent report by the Deutsche Bank discussed the adoption hurdles and implications of digital currency initiatives. Based on a survey, the bank studied the role of cryptocurrencies, stablecoins, and central bank digital currencies as a means to replace traditional cash payment methods.
Deutsche Bank believes digital currencies as a means of payment could become mainstream in the next two years. That’s especially so if Facebook leverages its 2.5 billion user base to launch the Libra stablecoin and China’s announcement of a digital yuan.
To make headway, Deutsche Bank believes that digital currencies must collaborate with key stakeholders. These include mobile payments apps, card providers, and global retailers. It predicts that at the current rate of adoption, there could be two hundred million blockchain wallet users by 2030.
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