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Cryptocurrencies could be widely adopted in the next two years, according to a new report by the main German bank Deutsche Bank.

The Deutsche Bank report, published on January 27, explains that, although they are only a decade old, cryptocurrencies have already shown themselves to have the "potential to radically change payments, banking, central bank and balance of economic power" .

We believe that a new cryptocurrency could become the dominant trend in the next two years, ”says the report. In addition, it is expected that both the initiative of China's digital yuan and Libra, the Facebook project, will be launched this year. The report says that with this, cryptocurrencies could be made available to more than 1.5 billion Chinese citizens and some 2.5 billion Facebook users. Together, more than half of the world's population.

According to the report, with the current pace of adoption, cryptocurrencies run parallel to the Internet in its early years. If this continues, there could be more than 200 million blockchain wallets by 2030, compared to 50 million in 2020.

This report is the third in a series published by Deutsche Bank, which examines the future payment landscape. In that sense, the first document states that many existing cryptocurrencies, such as bitcoin, are too volatile to be used as a viable means of payment or as a store of value. On the other hand, the second of this series foresees that the inherent benefits of cash will make it last as a payment method for decades.

Although many of these feelings are repeated in the third document, the researchers also stressed that cryptocurrencies could combine the convenience of electronic payments with the privacy of cash payments. In the case of digital currencies of central banks (CBDC), they are presented as new solutions to face the systematic problems of the world economy.

According to Deutsche Bank, if CBDCs are fully extended, central banks could enable accounts with interests for all citizens. That could "solve many problems caused by the current fractional reserve banking system," and commercial banks would not be "vulnerable to bank runs." Therefore, governments would not be forced into a position where they should rescue institutions "too big to fail," as they had to do in 2008, the researchers point out.

The Deutsche Bank investigation was based on the application of a survey of 3,600 clients of the bank. Although restricted to a smaller percentage of the population, the report showed a stark contrast between the attitudes of older respondents and young people.

While a large part of the older generation had never had cryptocurrencies, nor did they understand how they worked, the report found that a large majority of millennials (born between 1981 and 1996) had already operated with cryptocurrencies and believed they would be beneficial to the economy in general .

Deutsche Bank said in 2017 that the opportunities presented by blockchains for business technologies were enormous, forecasting that up to 10% of world GDP could be tracked or regulated using blockchain by 2027. In September 2019, the bank joined the Interbank Information Network (INN), a blockchain-based payment initiative that uses JPMorgan's anchored or stablecoin cryptocurrency, JPMCoin.