- As institutional investors begin to show increasing interest in digital assets, a recent survey conducted by Ripple found that over 90% of global financial leaders believe that blockchain technology will significantly impact business and finance in the next three years, representing a notable turn-around in their confidence in the cryptocurrency space over the past six months.
Ripple found that 88% of the decision-makers in global finance believe that crypto and blockchain will have either a significant or massive impact on business, finance, and society over the next three years. These findings show that the vast majority of global finance leaders have confidence in crypto, and those with more experience or expertise with the technology are the most optimistic about the sector, having experienced firsthand the benefits of blockchain technology.
“Compared to last year, respondents expect greater impact from CBDCs and stablecoins in less time,” the report said. “Cross-border payments and consumer-to-business payments are the top two most highly ranked use cases for both CBDCs and stablecoins.” According to respondents, the top reasons to hold a cryptocurrency are for use as a currency for making payments and as a hedge against inflation. The biggest roadblocks to borrowing, raising capital and making cross-border payments were interest rates and cost-related concerns.
“This suggests that any uncertainty was influenced by a few bad actors as opposed to the underlying technologies themselves,” the report said.