The global power industry is quite vociferous in its belief in cryptocurrency and the power it could wield to enable cheaper and faster transactions, according to a survey conducted by Ripple.
The blockchain-based network for digital payment, along with the Faster Payments Council payment organization, did issue a report on 2nd March which delved deep into the properties and opportunities of payments that were crypto-enabled. The report that was published is titled ‘Transforming the Way Money Moves’ and does provide some major insight into global crypto payment trends.
Ripple’s Survey Shows Massive Faith In Cryptocurrency
The survey conducted by Ripple was sent to around 950 FPC subscribers, which includes analysts and CEOs from 45 separate countries. The survey also included close to 281 respondents who were asked 25 varied questions on the use and benefits of blockchain transactions. The fieldwork for this survey took place in the first half of 2022.
As far as the results of the survey indicate, nearly every contributor of FPC believes that blockchain tech and cryptocurrency could be quite a major workforce in enabling faster transactions in the next three years. Around half of the surveyed payment executives believe that most merchants around the world would be accepting different forms of cryptocurrency as an accepted mode of transaction in the next few years.
Respondents of the Ripple survey from the Middle East believe that a large section of the merchant population will be crypto-friendly by 2024. According to the blockchain company, such a belief in the market could come from solutions that are crypto-enabled, like central bank digital currencies and mobile payments.
