Consumers and Politicians in US seem to disagree on Cryptocurrencies.
Although PWC’s “U.S. Economic Contribution of the Consumer Technology Sector” report issued in August 2016, is a little outdated, it still contains some curious factoids, which might be of interest to those of us, who’s looking for statistics to confirm or to disproof market / investment hypothesis regarding DLT industry.
In particular, two paragraphs from this 20-pages report attracted my attention. First one goes as following: “ … annual global revenues in the sharing economy have the potential to grow from $15 billion in 2015 to $335 billion in 2025, with the fastest growth in peer-to-peer lending and crowdfunding (63 percent growth) … “
That provides us with a rough estimate of the DeFi potential market size, which, at present (according to the Binance report cited in this group in June) doesn’t exceed 500 million (80% is Maker). Even if we are able to replace only 10% ($34 billion) of fiat with crypto in this niche it means 6000% growth during the next 5 years.
Second one: “… about 3.1 percent of adults in the U.S., or 7.5 million workers, earned income from online platforms in at least one month between October 2014 and September 2015.” Actually, those numbers look too conservative to me. For example, according to Pew Research Center in 2015: “24% of Americans report earning money from the digital ‘platform economy’.”
PWC report also states: “The percentage of adults who earn income from online platforms in any one month has increased dramatically, from 0.1 percent in October 2012 to nearly 1.0 percent in September 2015.” It means that the majority of Americans will be soon dependent for their income on various on-line sources, which means that the crypto-adaption in US will also grow significantly higher than recent 5–10% (see f.e. ‘Blockchain Capital’ report).
Of course, an increasingly hostile position of US politicians towards crypto might seriously undermine those perspectives driving most of hodlers and users underground or out of the country’s jurisdiction.
For more information on this subject join the Whitepapers analysis Telegram group: https://t.me/joinchat/I5eQ-A6FSC2vXg_PNgFwJw