With a lot of uncertainties surrounding the global crypto industry, it is indeed great news to find that consumers are happily choosing cryptocurrency as their preferred means of making purchases, as a new study suggests.
This was revealed in a recent research conducted by KPMG, one of the ‘Big Four’ accounting firms. Looking at the findings, it is safe to conclude that crypto might have started to gain the necessary mainstream support it needed to transform commerce.
The findings show that consumers from all age groups – young and old alike – will readily opt for purchases in virtual currencies than cash. 63% of the respondents clearly stated that they prefer crypto tokens as a means of payment as they are very easy to use.
In terms of loyalty programs, a total of 55% of the respondents indicated that they believe digital tokens will allow them to make better use of businesses’ loyalty reward points. In fact, KPMG’s findings show that 82% of consumers are ready to use tokens as part of an existing loyalty program.
Commenting on the research findings, KPMG US Blockchain leader, Arun Ghosh, stated:
“Tokenization is ushering in the next generation of commerce. It provides inspiring new ways to classify value, either by creating new assets or reimagining traditional ones, sustained with the security and transparency of blockchain. Businesses that take advantage of tokenization can open the door to entirely new process improvements, revenue streams and customer engagement opportunities.”
Although a large percentage of the world population – one-third from KGPM findings – are yet to comprehend what digitized tokens are and the technology behind it – blockchain – the stats show that things are looking up for the crypto world. Should tokens be made even easier to use, we are sure a larger percentage of the world population will be willing and eager to use them.
Financial Crypto Revolution
Since its inception about a decade ago, cryptocurrency and blockchain technology as a whole, have attracted crowds from both sides of the virtual coin – fans and critics.
Some people actually believed this new class of digital assets will not take off from the ground level. Looking back at how far digitized tokens have come in the financial world, we can say unabashedly that it did take off and it may have gotten the widespread recognition it needs to finally revolutionize how we trade.
We hope to see how far digitized tokens, especially cryptocurrencies, can go in remodeling our age-long trading and buying style.
