Ripple, a blockchain-based digital payment network and the Faster Payments Council (FPC) payment organization. got outThe March 2 report covers the prospects of crypto-supported payments.
The report, titled “Transforming the Way Money Moves,” provides insight into global crypto payments trends based on a survey sent to over 950 FPC members, analysts and CEOs in 45 countries. The survey included 281 respondents to answer 25 questions about the use cases and benefits of blockchain payments, digital asset ownership, and barriers to their use.
According to the survey results, almost all FPC surveyed members, or 97% of respondents, believe that cryptocurrency and blockchain technology will play a key role in accelerating payments over the next three years, and more than 50% of respondents. The payment services surveyed believe that Most merchants will accept crypto payments within one to three years.
27% of respondents in the Middle East and Africa executive group believe that the majority of merchants are friendly. cryptocurrency by 2024
However, despite 52% of respondents considering the use of crypto for payments, But only 17% of respondents supported crypto payments at the time of the survey.
The report states that The biggest reasons for the lack of crypto technology for payments are limited regulatory clarity and adoption, with nearly 90% of respondents citing regulatory ambiguity as the main barrier to crypto payments. while 45% of those interviewed cited limited industry acceptance.
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