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The paper, published by The Economist, paints a fairly bright future for the adoption of cryptocurrency, as survey participants expect an increase in demand in the very near future.
The Digitalization Report examines consumer confidence in digital payments and the obstacles that prevent the digitization of core monetary functions. The data obtained are compared with the results of previous surveys conducted in 2020 and 2021.
The survey, which was conducted in early 2022, involved 3,000 respondents, with half of them living in advanced economies – the United States, Britain, France, South Korea, Australia and Singapore. The other half came from developing countries, including Brazil, Turkey, Vietnam, South Africa and the Philippines.
About 75% of the participants had a university degree and used various digital payment methods to pay for goods or services. The last part of the survey involved 150 institutional investors and managers involved in the management of corporate treasuries.
A key takeaway was the prevailing view of investors that open source cryptocurrencies such as bitcoin (BTC) or ether (ETH) are useful as a diversifier in a portfolio or treasury account.
This opinion is shared by 85% of respondents, while nine out of ten institutional investors and participants in the corporate treasury survey indicated that demand for all cryptocurrencies, including CBDCs and enterprise blockchains, has grown over the past three years.
It is indicated that the growth of Web3 and various metaverse projects can increase this demand. 74% of respondents also agreed that non-fungible tokens (NFTs) are a new asset class that organizations plan to acquire and sell.
Central bank digital currencies (CBDCs) have been another center of attention. A growing number of consumers expect their governments or central banks to introduce a working CDBC system by 2025. 65% of executives who took part in the survey believe that CBDCs are likely to replace physical fiat currencies.
Regulation is defined as a major obstacle preventing institutional investors or corporate treasurers from using cryptocurrencies. 35% of respondents called the trust of the market or understanding of innovations an obstacle.
#respondents #Economist #growth #demand #cryptocurrencies