Less than a third of Britons questioned in a poll said they had heard of digital currency the bitcoin, but many of those who are aware of it (38%) agree that it will be the currency of the future.
The poll, conducted by On Device Research in association with st-art, organisers of a forthcoming bitcoin conference in London, also found high levels of confidence in the bitcoin in the US and Argentina, the two other territories where the research was conducted.
Nearly seven out of 10 Britons who had heard of the bitcoin said that they trusted the digital currency, with 14% saying they trusted it more than the pound sterling. In Argentina, where bitcoin awareness is higher than in the UK or US, 73% of those who knew of the bitcoin said they trusted it, with 22% having more confidence in the bitcoin than the Argentine peso (ARS). Forty-four per cent of bitcoin-aware Argentinians said the currency’s appeal was because it spared them from having to deal with financial institutions
In the US, 62% of bitcoin-aware Americans trusted the digital currency, with 16% having more trust in it than the US dollar. .
“Confidence and awareness of bitcoin and digital currency is growing fast as perceptions of traditional currency have been hit hard by the recent financial crisis,” said Pamir Gelenbe, founder of st-art and Hummingbird Ventures Venture Partner.
“While negative perceptions of the national currency and high levels of confidence in bitcoin might not come as such a surprise in Argentina, the data from the UK and US is more striking – with high levels of awareness and a strong feeling that digital currencies are the future.
“Digital currency also represents a significant opportunity to help the four billion people on this planet that don’t have bank accounts – bitcoin makes it possible to hold money on a phone or PC and transfer money seamlessly from anywhere to anywhere in a split second, without expensive wire transfer fees. Over time, these ‘unbanked’ consumers around the world will adopt bitcoin – just like they have adopted mobile phones – and use it to store and transfer their money.”
Global digital payment volumes are set to reach 426.3bin transactions in 2015, according to the World Payments Report 2016 fromCapgemini and BNP Paribas.
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