Blockchain platform Wirex has revealed a new research program in partnership with Stellar Development Foundation. The research was performed by the two parties to identify real-world applications of cryptocurrencies.
The research revealed rising knowledge about cryptocurrency
The research was revealed today in a press release and was carried out within a 6-month span and involved surveys into the real world use for cryptocurrencies. The 20-page report revealed new habits and analysis that provided added insights into the impact of crypto assets in the digital economy.
According to the research findings, 74% of respondents view crypto payments as a viable alternative to traditional money transfer services. In addition, only 25% of people had heard the term stablecoin before. It was also discovered that previous sentiments about age and security as a major factor in blockchain adoption was grossly overstated. 57% of respondents were aged 45 and above while 86% of people suggested that they felt safe using cryptocurrencies.
Pavel Matveev, CEO, and co-founder of Wirex believes that the research showed that crypto is a considerably under-researched sector. “It’s clear that crypto is a considerably under-researched area, and it’s vital that we better understand it to be able to produce products that rival the traditional economy and address users’ concerns. He said.
Stellar development foundation chief Denelle Dixon further added that the research provides a glimpse into the problems in international transactions and where blockchain can be effective. ‘’Our research will help us get a glimpse into the pain points people experience with international transactions and highlight opportunities where blockchain and crypto can be part of the solution.”
Blockchain adoption moving mainstream
Blockchain and cryptocurrencies have continued to spread in popularity across different sectors globally. This is evident with more regulations from governments across the world in movement to the growing trend.
The easy movement of funds and fast completion of cross border payments have seen crypto emerge as an alternative to popular payment methods. Leading cryptocurrency Bitcoin is also driving this growth with the recent surge in value carried by major news outlets worldwide.
It is no surprise that the research carried out by Stellar and Wirex revealed an increasing knowledge of cryptocurrencies across major demographics. It is expected that cryptocurrencies will continue to develop into more real use cases in the coming future.