Ripple’s latest report estimates that 76% of financial institutions plan to use it. cryptocurrencies in their operations over the next 36 months, however, most agencies said. They will delve into the industry. assuming there is an appropriate regulatory framework to implement.
The study also reveals that 20% of global consumers will only buy sustainable cryptocurrencies. Proof-of-Work (POW) and which uses less energy?
Ripple’s View on the Latest Crypto Market Trends
researchspecifyabout three-quarters of all financial institutions around the world Intends to join the cryptocurrency group over the next three years. and when asked why not now Most of the participants said it was due to the lack of proper rules. This includes several scams that have occurred in the area recently.
Another factor that may promote the adoption of cryptocurrencies is Banks and their attitudes towards the sector, with 65% of respondents admitting that they would be more inclined to invest in bitcoin or altcoins if local financial institutions provided such services. while only 17% said this was unimportant.
However, it is worth noting that Some financial entities have become HODLers over the years, with 50% saying they do so because they see digital assets as a good hedge against inflation.
regionally Companies and individuals in Latin America They seem to be most interested in the industry, with 50% of them believing that cryptocurrencies It will have a big impact on the economy in the future, while 35% of European respondents think the same.
NFT and CBDC
The research also addresses NFT tokens and Central Bank Digital Currency (CBDC), with Ripple noting that interest in digital collectibles However, the channel is still “in its early stages” and most consumers still don’t understand or have doubts about it.
Most people who are aware of the advantages of NFT say They would buy the product based on the usability (79%) rather than the sentiment (45%).
NFT tokens related to the music, gaming and sports industries seem to be the most interesting to people. This is followed by collectibles linked to movies and culture.
Ripple has summarized the pros and cons of CBDCs and what financial institutions and consumers think about them. which, according to the company Such products will greatly increase financial accessibility. “For example Stimulus payments aren’t just faster. but also more widely distributed.”
“They use the same underlying technologies that drive powerful new digital assets like cryptos. They can be used for cross-border payments. at a lower cost compared to traditional solutions, and lastly, because they are easily manageable. They can therefore support the implementation of various monetary policies. strong and fast,” the company added.
However, CBDCs are often fully centralized and scrutinized by the government. This means that they will not give you the freedom that bitcoin and other altcoins offer.
36% of financial institutions surveyed believe that CBDCs will have a significant impact on society, while 34% think it will boost economic networks and 28% think the product will make the sector prosperous.