Cryptocurrencies, block technology, and decentralization, in general, can create a market worth a total of $ 10 trillion.
This is stated in an analysis of the subsidiary of Royal Bank of Canada in the face of RBC Capital Markets, quoted by CoinDesk.
"Although there are a lot of risks in the Cryptocurrencies field, the possibilities are quite broad with the continuous development of technology," writes Ritchie Capital Markets analyst Mitch Steves.
According to him, the protocol of the block technology itself is much more valuable than the applications that are being developed on the basis of it.
The analyzer tracks the connection between applications and the system itself.
"While applications are successful, the protocol increases its value, creating additional interests associated with new developments in decentralized applications," the report said.
According to the report, the market related to the digging/harvesting of Cryptocurrencies will not disappear but will continue to exist.
At present, the $ 4.2 billion Bitcoin technology market is based on ASIC-based mining (for example, in a BTC cache) at $ 350-450 million, and the market for processor power to dig of virtual currencies, such as ether and mono, has a value of $ 1.9 billion, according to the analysis.
The report points out that decentralized technologies as they are today are heavily underestimated, as Cryptocurrencies can help deal with the growing number of transactions around the world.
The key risks to the block ecosystem are related to the creation of increasingly sophisticated hacking techniques for online portfolios, as well as the possible imposition of regulation by individual national governments.
Analyst Mitch Steves believes the block system could lead to the creation of a global supercomputer that has the potential to turn into a $ 10 trillion industry.
"There is one positive thing that we can agree with, that is, the block was never hacked. What would happen if we build on this secure protocol base? "Adds the analyst.
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