According to Cointelegraph, blockchain technology could have 100 million daily users by 2028 if the current rate of adoption continues, according to projections by Bloomberg Intelligence analyst Jamie Coutts. Coutts highlighted that blockchain adoption has been consistent throughout bull and bear markets over the past years. Daily active addresses exceeded 5 million in the third quarter of 2023, up 14% from 2022, while quarter-on-quarter growth has averaged 29% since 2019. Coutts suggested that a more moderate 20% QoQ growth rate could lead to 100 million daily users by 2028.
Coutts compared blockchain rate adoption with PayPal’s rate growth, noting that it took the fintech giant 13 years to reach 100 million daily users. He added that if Ethereum was considered day zero for smart contracts in 2015, it might take a similar time frame for blockchains to reach a similar level of adoption. With the current pace of adoption, blockchain-based companies may also see a rise in valuations. Coutts noted that basic regressions show the blockchain ecosystem could be valued between $5 trillion to $14 trillion once 100 million users are onboard, up from $350 billion today. Coutts' projections are consistent with data suggesting sustained interest in blockchain technology, with development in the crypto industry rising 5% in 2022 despite the market downturn. A 2022 survey conducted by Celent also showed that 91% of institutional investors are interested in investing in tokenized assets, which are blockchain-based tokens representing ownership of physical and digital assets.
