Blockware Solutions (BWS), an industry leader in blockchain infrastructure and Bitcoin mining, released a new report last from its propriety research arm, Blockware Intelligence, titled Bitcoin User Adoption.
Orchestrated by lead insights analyst Will Clemente, this new report seeks to apply the historic S-Curve adoption pattern of technology and on-chain entity metrics to forecast the adoption of Bitcoin.
According to a news release, the report found that Bitcoin adoption will occur faster than the adoption of past technologies. The report highlighted that as more users join the Bitcoin network, the value of the network will increase.
Bitcoin User Adoption also dives into:
— How Bitcoin will hit at least a billion users, following milestones for user adoption.
— How global Bitcoin adoption should hit 10% around the year 2030 based on past technology adoption curves.
— How the network effect of Bitcoin, with each user making Bitcoin more valuable, is proven mathematically with on-chain data.
— How the number of entities on the Bitcoin network is growing exponentially.
Blockware Solutions publishes proprietary research through its research arm Blockware Intelligence, which includes the research team of Clemente along with:
— Mitchell Askew, social media associate
— Joe Burnett, mining analyst
— Warren Rogers, chief financial officer
— Sam Chwarzynski, chief information officer and head of research
— Blake Davis, equity analyst
— Mason Jappa, chief executive officer
The report can be found via this website.
Last week, SALT and Cion Digital announced a strategic partnership to bring SALT’s crypto financing solutions to more than 5,000 auto dealerships in the U.S.
The development marks the launch of SALT’s Embedded Crypto Lending Service, which will enable financial service providers and fintech platforms to rapidly deploy crypto financing solutions.
Having launched in 2016, SALT was one of the first platforms to offer crypto-backed loans and has since been focused on optimizing its lending technology and servicing operations.
Over the past few years, the company said it has built a full stack loan management and risk platform that manages complex crypto loans at scale. With the launch of Embedded Crypto Lending, SALT highlighted that is bringing this technology to other platforms, helping them further their mission to offer new and novel products to their customers.
“We’ve been building our direct-to-consumer lending business with the embedded model in mind from the start,” SALT chief executive officer Justin English said in a news release.
“From crypto native wallets and exchanges to large neobanks and traditional financial institutions, market participants are increasingly intent on digitizing their platforms to accommodate the ever-growing demand for crypto, and we’re excited to help facilitate the transformation,” English continued.
By partnering with Cion Digital, which recently announced a collaboration with CarNow and its network of nearly 5,000 dealers, vehicle buyers will be able to use their crypto as collateral for loans at point-of sale at highly competitive rates.
Buyers will also be able to use crypto to make a down payment or pay for a vehicle in full.
“Cion Digital is excited to partner with SALT to offer our extensive network of dealers the ability to turn on this exciting new point-of-sale financing option, which is often a lower cost loan than traditional financing options,” said Fred Brothers, president and co-founder of Cion Digital.
“With almost half of Millennials now owning crypto, we are working together to increase dealer capabilities for this fast-growing market of buyers who want more financing and payment options at the dealership.”
Visit SALT’s Embedded Crypto Lending page or contact partnerships@saltlending.com to learn more.
Dealers interested in learning more about this new point-of-sale financing option can contact Cion Digital at info@ciondigital.com.
Earlier this year, Digital Asset Investment Management (DAIM) and Marino Performance Motors (MPM) highlighted how they’ve been seeing a notable increase in customers wanting to transact in digital assets.
Last week, the Jeff Wyler Automotive Family completed its first vehicle sale transaction using cryptocurrency. The transaction took place at its Mercedes-Benz of Fort Mitchell dealership, as the dealer group sold a certified pre-owned 2021 Mercedes-Benz S580 to a buyer in Saudi Arabia.
According to a news release, the client from Saudi Arabia used Ethereum cryptocurrency to purchase the CPO model.
“The process was significantly faster than any wire transfer (especially an International one). He was very pleased with the simplicity, convenience, and speed for the buying transaction,” Jeff Wyler Automotive Family said in a news release.
The group accepts up to 12 different cryptocurrencies, including Bitcoin, at its 23 dealerships located in Ohio, Kentucky and Indiana. Customers can pay for part of their transaction or for the entire transaction using their choice of cryptocurrency or mix of cryptocurrencies.
“We take pride in leading the industry wherever it makes us more consumer facing,” said David Wyler, president of the Jeff Wyler Automotive Family. “And accepting cryptocurrency provides payment flexibility and faster sales transactions for our customers.”
