Research: in 10 years Bitcoin will become the main payment system in the world

Ten years later, Bitcoin will win competition from the current giants of the payment system market, such as Visa and MasterCard. This is the conclusion reached by DataLight analyst, noting that such a scenario is quite likely if the first cryptocurrency maintains the current pace of technological development.

With the staggering total of $ 3.4 trillion transferred with Bitcoin last year, you are very surprising.
Follow the link below to read the full study! https://t.co/QxAjZrzeyb

– DataLight (@DataLightMe) April 1, 2019

As the company writes in its blog, since its introduction in 2009, Bitcoin has already managed to conquer a significant part of the payments market. And if the current exponential rates of cryptocurrency development continue, over the next ten years, Bitcoin will be able to win competition from major payment systems such as Visa and MasterCard with a considerable margin.

“Already, Bitcoin surpasses traditional international payment systems and bank transfers … Technical improvements to Bitcoin will almost certainly make it the main payment system in the world,” the researchers write.

They, in particular, support their conclusions with an analysis of the current activity of the network. Bitcoin, perhaps, is still inferior to Visa and MasterCard in terms of bandwidth, but already in 2018 the average size of transactions in cryptocurrency significantly bypassed the similar indicators of both these systems.

Thus, the average transaction in the Bitcoin network in 2018 was more than $ 41,000, while Visa had this figure of $ 90, with MasterCard – $ 80, with PayPal – $ 58. This once again confirms that cryptocurrency is the most convenient method for transferring large sums, including due to its structure of transactional commissions.

Also, researchers note that with the growth of the Lightning Network Bitcoin in terms of commissions will take more and more advantageous positions compared to traditional payment systems.

As BlockchainJournal wrote earlier, in the last days of March, the cumulative number of transactions included in the found bitcoin block reached absolute historical maximums .

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