THE BSV Blockchain Association recently released its first BSV Blockchain Barometer report. The report, which will serve as an annual benchmark for the industry, derives insights that will help inform the Association’s approach to promoting education and driving adoption.
The report was based on the results of a survey of 13,000 people conducted in collaboration with YouGov. Respondents were based in the UK, Spain, Germany, France, Sweden and the USA.
The findings revealed shocking gaps in trust and awareness of technology, highlighting the need for better education and transparency.
Key findings from the BSV Blockchain Barometer report
The report covered topics related to artificial intelligence (AI), Web3, metaverse, blockchain technology and emerging technologies in general.
Some of the key findings related to blockchain technology and digital currencies include:
- Men are 50% more likely than women to own digital assets. 28% of men own digital currency or NFTwhile only 12% of women do so.
- 29% of German and 37% of Spanish respondents plan to use blockchain technology in the next five years.
- Among all respondents, 71% had never heard of blockchain technologywhile 59% admitted to not knowing the similarities or differences between blockchain technology and digital currencies like Bitcoin.
- Generation Z is the most educated when it comes to blockchain technology and digital currencies. This generation also showed greater confidence in AI, Web3and social networks.
When it came to blockchain for industry and its benefits, respondents universally asked, “What’s in it for me?” 30% said understanding the benefits of blockchain would make them more inclined to use it, 28% said a better understanding of the technology itself would help them, and 27% expressed a desire for a better understanding of how it is used.
When predicting which industries would be disrupted by blockchain technology, 34% said finance26% predicted health careand 19% thought that supply chain would be the most distributed. 41% of respondents answered “don’t know”.
Summary of the BSV Blockchain Barometer report
The report highlights that there is still a long way to go before widespread understanding of blockchain technology spreads throughout society. As with anything, understanding breeds trust, and people who trust technology are more likely to adopt and use it.
Overall, 60% of respondents could not explain blockchain technology, and the majority could not clearly differentiate between blockchain and digital currencies.
Clearly, the BSV Blockchain Association has its work cut out for it, but knowing where the gaps are is the key to developing educational materials aimed at filling the gaps. THE BSV Blockchain Barometer Report is very valuable in this regard.
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