2022-08-22 18:36:15
Ripple Report: Crypto Trends in Business & BeyondThis month, fintech firm Ripple issued a 44-pages research report about the “Internet of Value” (Web3). It is divided into 3 main sections: tokenize, manage, and move.
We’ve gathered the
main takeaways from this research:
Tokenize We anticipate tremendous growth in tokenization. The World Economic Forum projects that 10% of the world’s GDP will be tokenized by 2027.
80% of central banks around the world are actively exploring the use of CBDCs.
The vast majority of respondents worldwide believe that CBDCs are on the horizon, with 85% saying they believe CBDCs will be adopted in their country within the next four years.
Manage More companies are holding crypto as a hedge against inflation or other asset classes, or as an alternative to bonds.
In the US alone, 2,300 organizations like PayPal, Microsoft, Whole Foods, and UNICEF have begun accepting cryptocurrency payments.
76% of Financial Institutions expect to use crypto in the next three years.
Both financial institutions and enterprises say they would hold crypto, 50% included use as a hedge against inflation, as a currency for making payments, or as an asset to lend or collateral for borrowing.
Factors stopping institutions from crypto adoption: fraud and scams, unclear regulation, and price volatility.
The majority of consumers say that they would buy crypto through their bank if the bank offered it.
Move 70% of global financial institutions are interested in using blockchain for payments.
33% of global consumers would consider using crypto for purchases.
25% of global consumers would consider using crypto to send money to friends or family.
56% of global consumers say they are more likely to transact with a merchant that accepts crypto.
#Research
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