It may take another 3 to 10 years for DeFi to be widely used

A survey from Cointelegraph shows that large-scale application of DeFi may take another 3 to 10 years.

This week, the crypto media released a report titled "2020 DeFi Applications: An Authoritative Guide to Entering the Industry", which shared some trends and insights into the industry.
The report believes that most DeFi projects believe that the industry is far from mature, but they are convinced that mainstream applications are likely to happen soon. The survey shows that in the DeFi field, 48% of projects expect to be adopted by the mainstream in three to five years, while 8% of projects believe that it may take more than 10 years.
Of all respondents, 89% agreed that DeFi is widely scalable and will eventually become mainstream, with only 8% saying they disagreed.
Will DeFi be just a flash in the pan? The report believes that the long-term development roadmaps of established projects can alleviate this concern. Despite some rapid forks in this field and some opportunists who are looking to take advantage of the recent market frenzy, sustainable development remains the focus of big players in the field.
To further illustrate that the industry is still in its early stages of development, the survey also noted that 32% of DeFi projects had less than $100,000 in revenue in 2019. However, this leaves room for subsequent growth as products and platforms become more user-friendly and efficient.
Another key trend in the DeFi space involves B2B business models. Although the DeFi industry is mainly driven by individual users at this stage, 36% of projects believe that institutions will be a vital part of them. Only one-third of respondents plan to continue to target individual users, but others are preparing to launch services for institutions (48%), SMEs (35%) and large enterprises (28%). 30% of DeFi projects hope to provide services to multiple fields at the same time.
The respondents to the survey are executives from the top 50 projects involved in lending, portfolio management, decentralized exchanges, wallets, combined assets, etc. They are distributed in 11 countries, of which 38% are in Europe, 33% in North America, and 29% in Asia Pacific. (Bitpush)