World Economic Forum conducted a survey on latest technologies and the potential impact of these technologies. The survey report titled “Deep Shift: Technology Tipping Points and Societal Impact” offers the results of the survey. Bitcoin was one of the survey topics and responses from over 800 people, mostly executives and experts was recorded and analysed. The results showed that bitcoin will take a long time to reach the tipping point enabling it to become mainstream.
The World Economic Forum’s survey reports that by 2025 over 10 percent of the world’s GDP will be supported by Bitcoin and Blockchain Technology. According to the survey, over 58 percent of respondents believed that bitcoin may reach tipping point by 2025. Over 70 percent of respondents predicted that bitcoin and blockchain technology would be widely adopted by governments and other institutions for maintaining public records, collect taxes and for transparent record maintenance and allocation of funds for development by 2025.
While the World Economic Forum’s survey report sounds promising, the recent developments in bitcoin ecosystem, especially in Australia where banks are cracking down on bitcoin businesses and merchants are moving away from bitcoin creates a sense of uncertainty.
Image: EPA/JEAN-CHRISTOPHE BOTT
I see, I think and I do… passionate about digital currency, start-ups and social good. I believe that if you mix them right, you can change the world. Find me @gautham_n on twitter or /gautham,nm on facebook
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