55% of People Believe Cryptocurrencies Will Be Widely Accepted by 2025, Says New Lendingblock’s Research
| Updated by Alexandra Sayapina · 4 min read
The first cross-blockchain securities lending platform released a thorough report on the attitude towards cryptocurrencies – the results are optimistic for the crypto community.
Cryptocurrencies have become an object for active discussion. Blockchain specialists and professional investors, white collars and factory workers, students and housekeepers – the whole world seems to go crazy about the cryptocurrencies. This situation has led to the wide spread of generalizations. Ambitious predictions of the crypto well-being coexist with the crushing criticism. Lendingblock, an open exchange for cryptocurrency loans, has released a research that is shedding light on the attitude to cryptocurrencies.
Lendingblock, as we have previously covered on CoinSpeaker, is the first cross-blockchain securities lending platform for cryptocurrency. The project has a strong technological background. However, this is the platform which helps borrowers and lenders of the cryptocurrency to be matched. It significantly depends on the attitudes to the crypto sphere within society. No wonder Lendingblock got interested in getting actual data on the crypto sphere. Two thousand people became a part of this research: the sources were personal data and insights platform CitizenMe.
The results of the research are satisfying for the crypto fans. First of all, 21 percent of the respondents turned out to be or have previously been cryptocurrency owners. Even though lots of people refer to the cryptocurrencies’ grows as to a bursting bubble, the report proves that belief in the crypto sphere is strong. 55 percent of respondents believe that by year 2025 the usage of the cryptocurrencies will become so wide that they would be accepted commonly: from regular shops to public transport.
Steve Swain, Co-Founder and CEO of Lendingblock said, “In spite of much discussed uncertainty about cryptocurrency, the public is sure that cryptocurrency is here to stay. Cryptocurrency is a maturing market, and this is exactly what we would expect to see happening at this time as we move from early-adopters to more mainstream awareness and use.
People are still having lots of doubts while investing in cryptocurrencies. Just one out of five respondents treats cryptocurrencies as a good investment. But the situation is likely to change in the near future: the majority of 56% is eager to invest in the crypto sphere. The risks are high and this result did not come as a surprise.
Lendingblock got interested in the reasons why people are expressing the interest in the cryptocurrencies but still avoid investments. The results were not that difficult to pretend. The better security listed as number one reason with the 32percent result. The second place comes to better apps for operations in the crypto sphere (28 percent). The last of the top three reasons is government backing which was chosen by the 23 percent of the respondents.
“Before we get there, however, cryptocurrency need to be made safe, and that’s why we welcome the UK Government’s recent recently announced inquiry into investments. What’s interesting, is that this survey shows that the public and the market are aligned in what they think the cryptocurrency market needs next: which is more security, infrastructure and better tools. This is undoubtedly the next step of evolution for the market” – commented Steve Swain.
The report also showed some other notable trends of the crypto sphere. The voices of critics may be loud, but only 10 percent of the respondents declared that they would never buy cryptocurrency. Surprisingly, the gender factor seems to mean a lot for the industry: 30 percent of the men who participated in the research have been or currently are cryptocurrency owners. The same rate for women is just 13 percent. One more surprise comes from the variety of people interested in the sphere. It turned out that the ‘millennials’ and the ‘household decision makers’ agree on many points: the difference in the result s of these groups is just 1-2 percents depending on the exact point.
“These demographic breakdowns give an interesting insight into where cryptocurrencies have taken hold first,” said Linda Wang, co-founder and COO of Lendingblock. “While you might have guessed it would be millenials, in fact cryptocurrency is an incredibly serious and potentially lucrative market that is getting considerable interest from financial services, which is what is reflected here.”
Lendingblock has definitely provided the crypto society with the thoughts-provoking information. This kind of data is useful for most of the blockchain-based projects. Lendingblock is about to launch the Pre-Sale of its LND token: the start is scheduled for the 7th of April. The project has made a solid research – now it expects the ICO to prove that the interest to the cryptocurrencies is high.
Alexandra is a software engineer who specializes in core banking systems development for financial and IT spheres. Taking strong interest in blockchain, cryptocurrencies, and IoT, Alexandra got deep understanding of the emerging techs believing in their potential to drive the future.