By Shelly Melancon (Switzerland)
New evidence by USA Today reveals that 22% of blacks, 15% of Hispanics, and 12% of whites own digital assets. The survey further revealed that there is less cryptocurrency awareness among whites compared to the combination of Blacks, Asians, and Hispanics.
Aside from the people of color, there is also more crypto awareness among marginalized groups such as the lesbian, gay, bisexual, transgender, and questioning (LGBTQ). At the same time, about 14% of the general populace own crypto compared to 24% of the LGBTQ Americans. A US census bureau statistics conducted two years ago reveal that the majority of the American population are white, followed by Hispanics and Blacks.
Greater Distributed Finance
The minorities and the LGBTQ groups view digital asset ownership as their chance of equal finance distribution since they are mostly disregarded by institutional banks and other payment service providers. About 44% of the blacks believe that the finance and loans sector hasn’t been fair to them.
Similarly, about 40% of the LGBTQ group also share a similar opinion to the blacks. Now, digital asset investment allows anyone, regardless of color or group, to own crypto investment without the influence of the finance system.
But, most of them still fear they may lose their investments. The survey showed that about 51% of blacks fear losing their digital asset investment, which is less than the 34% of whites who share the same fear. Conversely, 25% of the LGBTQ group were worried they could lose their crypto investment compared to 34% of the general populace.
Also read:However, all the investors are positive about the future of digital assets. 76% of the blacks and 65% of the whites reveal that they will hold their investments for a long period.
Diversity In Crypto Ownership
Despite a wide distribution in digital asset ownership in America, there are contrastingly different statistics for the crypto ecosystem in the UK. A recent survey by the financial conduct authority (FCA) reveals more cryptocurrency adoption in the country, with more than 2.4m owning these virtual assets.
Unfortunately, perception levels of cryptocurrency knowledge are now reduced. Yet, the demographic of cryptocurrency trading and ownership hasn’t changed that much despite the increasing number of crypto holders. They remain mostly males under 40 years and are in the middle-to upper-middle category.
A New Project Lead For Decentralized Social Media Initiative
Jack Dorsey (Twitter founder) has announced Jay Graber as its new head of projects for Bluesky, a decentralized social media project founded by Dorsey. Graber tweeted his enthusiasm in working on the new project and his first major responsibility, which is recruiting a team for the project.
Jay Graber Tweet. Source: Twitter
You’d recall that Dorsey revealed scarce details about the project two years ago when he announced the recruitment of developers for the Bluesky project. The year 2019 was a controversial year for the project, and the highlight was the suspension of user accounts to deal with incorrect information. But by last year, the senate summoned Dorsey and Zuckerberg to defend censorship allegations leveled against their respective companies.
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