A study conducted by Lendingblock, a lending platform for collateralized cryptocurrency assets, revealed that more than half of its respondents see a future where cryptocurrencies will be used in shops and buses. Of the 2,000 people surveyed, 20% of them claim having owned or currently own a digital currency, while 55% of them believe that buses and a slew of shops will be accepting virtual currency payments in less than a decade.
According to Steve Swain, the CEO of Lendingblock, the public firmly believe in the future use of cryptocurrency in the mainstream despite its current uncertain position in the market. Swain acknowledged that “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.”
The study similarly show that 56% of the people surveyed are highly likely to acquire cryptocurrency in the future, while 32% are convinced that a more secure digital currency market would encourage them to get into cryptocurrency.
The increasing popularity of digital currency is directly related to the similar increase of cybercrimes related to them. Specifically, crypto mining malware has been seen as the culprit as based on an NTT Security report. The Lendingblock survey also shows that better-performing apps which allow users to purchase and sell cryptocurrencies would encourage users to engage in digital currencies more. 23% of them also claim that government backing will also entice them to invest. Thus Swain’s welcome of the UK government’s inquiry into cryptocurrency investments as it would add to the digital currency’s security and safety. The said inquiry will also look into how the Bank of England could produce a safe environment for consumers without sacrificing innovation. However, despite government support, a mere 10% of those asked in the survey is firm in their decision that buying cryptocurrency is something they will never do