Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Ripple Survey reveals real interest in Bitcoin, Ethereum, XRP, Stablecoins and CBDC among payment executors

Ripple Survey reveals real interest in Bitcoin, Ethereum, XRP, Stablecoins and CBDC among payment executors



A new study by Ripple sheds light on levels of interest in bitcoin (BTC), Ethereum (ETH), XRP, stable coins and central bank digital currencies (CBDC) among payment professionals around the world.

In August and September, Ripple asked 854 managers in 22 countries – all involved in payment services at digital banks, retail banks, money launderers and payment aggregators – about their interest in digital assets.

Of the group, 34% say their companies are already in production with blockchain technology for payment-related uses. 24% of respondents say they are moving to production, and 21% say they are using a pilot project or proof of concept for blockchain technology.

In addition, 47% of respondents say they are interested in bitcoin, 25% are interested in Ethereum and 1

9% are interested in XRP – all since 2018, when crypto markets were in the early days of long-term withdrawal.

In contrast, the digital currencies of central banks, bank-issued stable coins and non-bank stable coins reported huge jumps in interest from 2018. Today, 45%, 35% and 17% of respondents say they are interested in CBDCs issued by bank stable coins non-bank stable coins, respectively, all of only 1%.

Source: Ripple’s Blockchain in the 2020 Payment Report

Against the background of fluctuating interest in cryptocurrencies, the study shows that the instability of crypto still affects financial professionals.

“This year, the report revealed that price fluctuations experienced by the first two digital assets, and perhaps the most well-known, bitcoin and ether, affected respondents’ perceptions of instability and created a problem. The majority of respondents say they have confidence in the reliability of digital assets, but have concerns about their instability. Respondents in mature markets have the strongest concerns, with 61% saying they are very concerned. In contrast, less than half of LATAM and APAC respondents were concerned.

One reason for this is that these regions include countries with a relatively volatile domestic currency – and one that devalued in the first six months of the COVID-19 pandemic, e.g. Argentina and Mexico. As a result, respondents in these regions are more likely to examine the volatility of digital assets individually as they consider how to hedge against domestic currency risk and manage foreign exchange tax and capital controls. “

Overall, Ripple concludes that respondents are still concerned about the regulatory clarity of blockchain technology, deployment costs and security. However, some countries are making progress on the regulatory front and emerging markets are realizing the benefits of the new technology.

“Emerging markets are leading the way, realizing that the responsible use of blockchain and digital assets can reveal huge potential for their economy. Undoubtedly, both will lead to greater financial inclusion and economic growth, as opposed to the impact of the Internet. Mature markets will also benefit. “

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