Blockchain service provider – Accenture has published its end-of-the-year summary regarding global payment services. The publication reveals that conventional bank payment methods are still dominating the economic landscape of this world.
However, many customers are beginning to develop an interest in digital assets and are now willing to learn and understand how crypto works. Some might even invest in digital assets in the coming months.
In recent years, digital assets like BTCs have experienced a massive increase in value, reaching a peak value of over $60K. Other altcoins like Ethereum have also enjoyed good times.
However, in the last 12 months, the crypto market has experienced a lot of financial setbacks. Many controversial crypto executives have been investigated for fraudulent activities while the crypto market has been volatile and unpredictable.
All these have harmed the disposition of people towards cryptocurrencies. However, the report from Accenture makes it clear that many persons are still keeping their crypto assets, and many are looking to hold on to them for a long time.
Many Holders Include Their Seed Phrases As Part Of Their Valuables
The 2022 multinational Customer payment survey report from Accenture further revealed that many people still use popular payment methods. However, 20% of respondents have crypto wallets, holding on to their seed phrases as part of their valuables.
This implies that out of every five persons, at least one owns BTC or other digital assets. Information extracted from the 20 percent reveals that 28 percent of crypto owners keep digital assets as future investments.
However, 22% say they got into the crypto space out of curiosity. There were other reasons why people stepped into the crypto space. This includes the opportunity to send payments without respect for borders.
Some are also concerned about having a wide range of financial options. The report has made it clear that the recent volatility in the digital asset market will yield a reduction in the rate at which people adopt cryptocurrencies.
This reluctance is likely to continue until the crypto market becomes stable for a reasonable period.
The report also revealed that 23% of those who participated in the survey believe that crypto wallets can provide a safe environment for sending payments and receiving funds.
Although there are still a lot of uncertainties around national digital currencies (CBDC) issued by the central banks of various countries, it is worth noting that they are likely to create alternative methods for sending and receiving payments in the future.
The survey had a sample size of 16,000 customers from nations in Europe, Asia, North America, and Latin America. Customers from 13 nations took part in the survey. The respondents participated in the survey between August and September this year.
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